Legal & General Group Plc Acquires 7,019 Shares of 8×8, Inc. (EGHT)

Legal & General Group Plc raised its holdings in shares of 8×8, Inc. (NASDAQ:EGHT) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,091 shares of the technology company’s stock after purchasing an additional 7,019 shares during the quarter. Legal & General Group Plc owned 0.21% of 8X8 worth $3,970,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Strs Ohio increased its stake in 8X8 by 4.7% during the 2nd quarter. Strs Ohio now owns 60,200 shares of the technology company’s stock valued at $1,207,000 after purchasing an additional 2,700 shares in the last quarter. Swiss National Bank increased its stake in 8X8 by 1.9% during the 1st quarter. Swiss National Bank now owns 159,400 shares of the technology company’s stock valued at $2,973,000 after purchasing an additional 3,000 shares in the last quarter. SG Americas Securities LLC increased its stake in 8X8 by 29.6% during the 2nd quarter. SG Americas Securities LLC now owns 16,240 shares of the technology company’s stock valued at $326,000 after purchasing an additional 3,713 shares in the last quarter. Prudential Financial Inc. increased its stake in 8X8 by 2.5% during the 1st quarter. Prudential Financial Inc. now owns 154,978 shares of the technology company’s stock valued at $2,890,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in 8X8 by 37.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 15,325 shares of the technology company’s stock valued at $286,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 71.56% of the company’s stock.

EGHT has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of 8X8 from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. BidaskClub upgraded shares of 8X8 from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 10th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of 8X8 in a research note on Friday, July 27th. Stifel Nicolaus assumed coverage on shares of 8X8 in a research note on Wednesday, July 11th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Bank of America reiterated a “neutral” rating on shares of 8X8 in a research note on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.57.

NASDAQ EGHT opened at $21.45 on Tuesday. 8×8, Inc. has a 1 year low of $12.00 and a 1 year high of $23.50.

8X8 (NASDAQ:EGHT) last posted its earnings results on Thursday, July 26th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The firm had revenue of $83.20 million during the quarter, compared to analyst estimates of $81.02 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. analysts expect that 8×8, Inc. will post -0.12 EPS for the current fiscal year.

In other news, SVP Darren J. Hakeman sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $23.25, for a total value of $186,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

8X8 Company Profile

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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Institutional Ownership by Quarter for 8X8 (NASDAQ:EGHT)

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