23 hours Ago By Defense World Staff
Renaissance Technologies LLC increased its position in 8×8, Inc. (NASDAQ:EGHT – Free Report) by 1,101.0% in the fourth quarter, according to its most recent 13F filing with the SEC.
The firm owned 440,777 shares of the company’s stock after purchasing an additional 404,077 shares during the period. Renaissance Technologies LLC owned about 0.33% of 8X8 worth $1,177,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EGHT. Geode Capital Management LLC grew its holdings in shares of 8X8 by 8.6% during the third quarter.
Geode Capital Management LLC now owns 2,982,393 shares of the company’s stock valued at $6,085,000 after buying an additional 237,181 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in 8X8 during the 4th quarter valued at about $2,126,000. Connor Clark & Lunn Investment Management Ltd.
lifted its position in shares of 8X8 by 17.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd.
now owns 798,267 shares of the company’s stock worth $2,131,000 after purchasing an additional 118,686 shares in the last quarter. Barclays PLC boosted its holdings in shares of 8X8 by 198.8% during the third quarter.
Barclays PLC now owns 216,123 shares of the company’s stock worth $440,000 after purchasing an additional 143,791 shares during the period. Finally, Boston Partners increased its stake in 8X8 by 3.9% in the 4th quarter.
Boston Partners now owns 6,644,856 shares of the company’s stock valued at $17,742,000 after buying an additional 252,083 shares during the period. 93.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at 8X8In related news, insider Laurence Denny sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.00, for a total value of $30,000.
00. Following the completion of the transaction, the insider now directly owns 233,791 shares of the company’s stock, valued at $701,373. This trade represents a 4.
10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th.
The shares were sold at an average price of $2.23, for a total transaction of $223,000.00.
Following the completion of the sale, the insider now directly owns 14,289,476 shares in the company, valued at $31,865,531.48. This trade represents a 0.
69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,678 shares of company stock worth $590,602 over the last three months.
Company insiders own 1.22% of the company’s stock. Analyst Ratings ChangesEGHT has been the topic of several research analyst reports.
Needham & Company LLC boosted their price target on shares of 8X8 from $3.00 to $3.50 and gave the company a “buy” rating in a report on Wednesday, February 5th.
Wells Fargo & Company dropped their target price on 8X8 from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd.
Morgan Stanley decreased their target price on shares of 8X8 from $2.60 to $1.90 and set an “underweight” rating for the company in a research report on Wednesday, April 16th.
StockNews.com downgraded shares of 8X8 from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 5th. Finally, Barclays upped their price objective on shares of 8X8 from $2.
50 to $3.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock.
According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.66.
Read Our Latest Research Report on 8X88X8 Stock PerformanceEGHT opened at $1.81 on Wednesday. The company has a quick ratio of 1.
24, a current ratio of 1.25 and a debt-to-equity ratio of 3.08.
The stock’s 50 day moving average price is $2.03 and its two-hundred day moving average price is $2.49.
The firm has a market capitalization of $238.37 million, a P/E ratio of -5.03, a price-to-earnings-growth ratio of 6.
08 and a beta of 1.81. 8×8, Inc.
has a 12-month low of $1.51 and a 12-month high of $3.52.
8X8 (NASDAQ:EGHT – Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.
01 by $0.03. 8X8 had a negative net margin of 6.
33% and a negative return on equity of 1.45%. On average, equities analysts forecast that 8×8, Inc.
will post 0.04 earnings per share for the current year. 8X8 Profile (Free Report)8×8, Inc engages in the provision of enterprise communication solutions.
It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA. See AlsoFive stocks we like better than 8X8Why Invest in 5G? How to Invest in 5G Stocks Don’t Be Fooled by the Bounce: The Market Storm Isn’t Over YetInvesting in Commodities: What Are They? How to Invest in ThemCoca-Cola Company Stock Can Bubble to New Highs This YearLow PE Growth Stocks: Unlocking Investment Opportunities3 Stocks Lifting 2025 Guidance Despite Market JittersWant to see what other hedge funds are holding EGHT? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for 8×8, Inc. (NASDAQ:EGHT – Free Report)..
