Insider Selling: 8×8, Inc. (NYSE:EGHT) CEO Sells $429,931.43 in Stock

8×8, Inc. (NYSE:EGHT) CEO Vikram Verma sold 28,643 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $15.01, for a total value of $429,931.43. Following the completion of the sale, the chief executive officer now directly owns 40,336 shares in the company, valued at $605,443.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Vikram Verma also recently made the following trade(s):

  • On Wednesday, September 23rd, Vikram Verma sold 43,069 shares of 8X8 stock. The stock was sold at an average price of $15.37, for a total value of $661,970.53.
  • On Thursday, September 17th, Vikram Verma sold 13,923 shares of 8X8 stock. The stock was sold at an average price of $15.12, for a total value of $210,515.76.
  • On Thursday, July 23rd, Vikram Verma sold 2,852 shares of 8X8 stock. The stock was sold at an average price of $16.47, for a total value of $46,972.44.
  • On Wednesday, July 15th, Vikram Verma sold 793 shares of 8X8 stock. The stock was sold at an average price of $15.31, for a total value of $12,140.83.

Shares of 8X8 stock opened at $14.90 on Friday. The stock’s fifty day moving average is $16.00 and its 200-day moving average is $15.87. The firm has a market capitalization of $1.55 billion, a PE ratio of -8.37 and a beta of 0.91. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.65. 8×8, Inc. has a 12-month low of $10.70 and a 12-month high of $23.30.

8X8 (NYSE:EGHT) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.24. 8X8 had a negative return on equity of 63.36% and a negative net margin of 38.19%. The business had revenue of $121.81 million for the quarter, compared to the consensus estimate of $120.74 million. Analysts expect that 8×8, Inc. will post -1.06 EPS for the current year.

Several equities research analysts recently commented on EGHT shares. Northland Securities started coverage on 8X8 in a report on Friday, June 19th. They set a “buy” rating and a $23.00 target price on the stock. Zacks Investment Research upgraded 8X8 from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Evercore ISI started coverage on 8X8 in a report on Thursday, August 20th. They set an “outperform” rating and a $23.00 target price on the stock. Rosenblatt Securities raised their target price on 8X8 from $15.00 to $17.50 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Oppenheimer started coverage on 8X8 in a report on Wednesday, August 12th. They set a “buy” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. 8X8 presently has a consensus rating of “Hold” and a consensus target price of $21.39.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGHT. Glenmede Trust Co. NA bought a new stake in shares of 8X8 during the 2nd quarter worth about $25,000. Tower Research Capital LLC TRC lifted its position in shares of 8X8 by 1,690.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,384 shares of the technology company’s stock worth $47,000 after purchasing an additional 3,195 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of 8X8 by 24.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,491 shares of the technology company’s stock worth $62,000 after purchasing an additional 871 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of 8X8 during the 1st quarter worth about $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 8X8 by 46.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,733 shares of the technology company’s stock valued at $107,000 after acquiring an additional 2,461 shares in the last quarter. Institutional investors own 96.78% of the company’s stock.

About 8X8

8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.

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Insider Buying and Selling by Quarter for 8X8 (NYSE:EGHT)

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