S Squared Technology LLC Takes Position in 8×8 Inc $EGHT

S Squared Technology LLC bought a new stake in shares of 8×8 Inc (NASDAQ:EGHT) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 934,236 shares of the company’s stock, valued at approximately $1,597,544,000. 8X8 makes up about 0.5% of S Squared Technology LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors have also bought and sold shares of EGHT. Dynamic Technology Lab Private Ltd grew its holdings in 8X8 by 505.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 79,147 shares of the company’s stock worth $158,000 after buying an additional 66,070 shares in the last quarter. Geode Capital Management LLC lifted its stake in 8X8 by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,228,294 shares of the company’s stock valued at $6,329,000 after acquiring an additional 84,176 shares in the last quarter. Cetera Investment Advisers purchased a new position in 8X8 during the 2nd quarter worth $55,000. JPMorgan Chase & Co. boosted its holdings in 8X8 by 33.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,516,232 shares of the company’s stock worth $4,932,000 after acquiring an additional 628,024 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of 8X8 by 10.8% in the 2nd quarter. Rhumbline Advisers now owns 203,407 shares of the company’s stock worth $399,000 after acquiring an additional 19,813 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Insider Activity

In related news, Director Elizabeth Harriet Theophille sold 20,207 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $1.81, for a total transaction of $36,574.67. Following the completion of the sale, the director owned 167,086 shares in the company, valued at approximately $302,425.66. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin Kraus sold 34,329 shares of 8X8 stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $2.32, for a total transaction of $79,643.28. Following the completion of the sale, the chief financial officer directly owned 958,324 shares in the company, valued at approximately $2,223,311.68. This represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.13% of the stock is currently owned by corporate insiders.

8X8 Stock Performance

Shares of EGHT opened at $1.98 on Tuesday. The stock has a 50 day moving average of $1.94 and a 200 day moving average of $2.06. The company has a market capitalization of $285.99 million, a price-to-earnings ratio of 49.51, a PEG ratio of 1.38 and a beta of 1.83. 8×8 Inc has a 12 month low of $1.57 and a 12 month high of $2.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.83.

8X8 (NASDAQ:EGHT) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $190.17 million for the quarter, compared to analysts’ expectations of $182.47 million. 8X8 had a return on equity of 28.72% and a net margin of 0.64%.8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. As a group, sell-side analysts forecast that 8×8 Inc will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on EGHT shares. Weiss Ratings upgraded shares of 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $3.00 price target on shares of 8X8 in a report on Wednesday, August 5th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $3.25 price objective (up from $3.00) on shares of 8X8 in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.72.

About 8X8

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.