Diversified Trust Co Makes New $28,000 Investment in 8×8 Inc $EGHT

Diversified Trust Co bought a new position in shares of 8×8 Inc (NASDAQ:EGHT) during the second quarter, Holdings Channel.com reports. The firm bought 14,282 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI bought a new stake in shares of 8X8 during the first quarter valued at approximately $26,000. Algert Global LLC purchased a new position in 8X8 during the first quarter valued at $29,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of 8X8 by 89.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,980 shares of the company’s stock valued at $75,000 after buying an additional 13,184 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of 8X8 by 34.8% during the 1st quarter. Cerity Partners LLC now owns 38,068 shares of the company’s stock valued at $76,000 after buying an additional 9,829 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of 8X8 by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 36,000 shares of the company’s stock worth $96,000 after buying an additional 11,846 shares during the period. Institutional investors own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of 8X8 from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 5th. Morgan Stanley set a $1.90 target price on shares of 8X8 in a research note on Friday, August 29th. Rosenblatt Securities reissued a “buy” rating and issued a $2.50 price target on shares of 8X8 in a research report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 8X8 in a research report on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, 8X8 presently has an average rating of “Hold” and a consensus price target of $2.49.

8X8 Stock Down 0.5%

Shares of 8X8 stock opened at $2.21 on Friday. The company has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $1.91. The stock has a market capitalization of $301.38 million, a PE ratio of -13.81, a price-to-earnings-growth ratio of 2.42 and a beta of 1.87. 8×8 Inc has a 52-week low of $1.52 and a 52-week high of $3.52. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.18 and a current ratio of 1.18.

Insider Transactions at 8X8

In related news, Director Elizabeth Harriet Theophille sold 24,271 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $2.05, for a total value of $49,755.55. Following the transaction, the director directly owned 187,293 shares of the company’s stock, valued at approximately $383,950.65. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.01% of the company’s stock.

8X8 Company Profile

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.