8×8 Inc $EGHT Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its holdings in 8×8 Inc (NASDAQ:EGHT) by 83.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 555,042 shares of the company’s stock after acquiring an additional 253,192 shares during the period. GSA Capital Partners LLP’s holdings in 8X8 were worth $1,093,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Prelude Capital Management LLC acquired a new stake in shares of 8X8 in the third quarter worth $26,000. CIBC Bancorp USA Inc. acquired a new stake in shares of 8X8 in the third quarter worth $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of 8X8 in the third quarter worth $31,000. Abacus Wealth Partners LLC acquired a new stake in 8X8 during the 4th quarter valued at $45,000. Finally, M&T Bank Corp acquired a new stake in 8X8 during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EGHT. Weiss Ratings raised shares of 8X8 from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. Zacks Research lowered shares of 8X8 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Rosenblatt Securities raised their price target on shares of 8X8 from $2.75 to $3.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.45.

8X8 Price Performance

Shares of EGHT stock opened at $2.13 on Friday. The firm has a market cap of $296.75 million, a P/E ratio of 106.55, a P/E/G ratio of 1.72 and a beta of 1.83. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.09 and a quick ratio of 1.13. 8×8 Inc has a 1-year low of $1.56 and a 1-year high of $2.88. The firm has a fifty day moving average of $2.01 and a two-hundred day moving average of $2.04.

8X8 Company Profile

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.