The New York State Teachers Retirement System reached $2,608,000 position of 8×8, Inc. (EGHT)

The New York State Teachers Retirement System reached $2,608,000 position  of 8×8, Inc. (EGHT)

New York State Teachers Retirement System maintained its position in 8×8, Inc. (NASDAQ:EGHT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,530 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in 8×8 were worth $2,608,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EGHT. HBK Investments L P bought a new position in shares of 8×8 during the first quarter worth $1,259,000. Renaissance Technologies LLC increased its position in shares of 8×8 by 4.5% in the first quarter. Renaissance Technologies LLC now owns 1,630,448 shares of the company’s stock worth $16,402,000 after buying an additional 70,118 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 8×8 by 138.6% in the first quarter. Goldman Sachs Group Inc. now owns 76,316 shares of the company’s stock worth $768,000 after buying an additional 44,331 shares in the last quarter. Perkins Capital Management Inc. bought a new position in shares of 8×8 during the second quarter worth $552,000. Finally, Pacad Investment Ltd. bought a new position in shares of 8×8 during the first quarter worth $239,000. Hedge funds and other institutional investors own 72.09% of the company’s stock.

8×8, Inc. (NASDAQ:EGHT) traded down 2.73% during trading on Thursday, reaching $14.24. 648,257 shares of the company’s stock were exchanged. The stock’s market cap is $1.28 billion. The firm has a 50 day moving average of $14.43 and a 200-day moving average of $13.24. 8×8, Inc. has a 12 month low of $8.39 and a 12 month high of $15.67.

8×8 (NASDAQ:EGHT) last announced its earnings results on Thursday, July 21st. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company earned $60 million during the quarter, compared to the consensus estimate of $57.97 million. 8×8 had a negative return on equity of 0.89% and a negative net margin of 2.34%. On average, equities research analysts anticipate that 8×8, Inc. will post $0.20 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on EGHT shares. Dougherty & Co boosted their target price on shares of 8×8 from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Summit Redstone reissued a “buy” rating and set a $17.00 price target on shares of 8×8 in a research note on Thursday, June 30th. Zacks Investment Research downgraded shares of 8×8 from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Needham & Company LLC boosted their price target on shares of 8×8 from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. Finally, Robert W. Baird assumed coverage on shares of 8×8 in a research note on Thursday, August 25th. They set a “neutral” rating and a $15.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.86.

8×8 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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