8x8 Inc CEO Samuel Wilson Sells 48,840 Shares
On December 18, 2023, Samuel Wilson, CEO of 8x8 Inc (NASDAQ:EGHT), executed a sale of 48,840 shares in the company. The transaction was filed with the SEC and indicates a notable insider sell for the cloud communications company.
8x8 Inc is a provider of Voice over IP products, including cloud-based voice, contact center, video, mobile, and unified communications solutions for businesses. The company operates in a competitive and rapidly evolving industry, offering services that allow companies to communicate and collaborate more effectively.
Over the past year, the insider has sold a total of 247,155 shares and has not made any purchases of the company's stock. This latest transaction continues the trend of insider selling activity at 8x8 Inc.
The insider transaction history for 8x8 Inc shows a pattern of selling, with 50 insider sells and no insider buys over the past year.
On the day of the insider's recent sell, shares of 8x8 Inc were trading at $3.55, resulting in a market cap of approximately $444.676 million.
The stock's price-to-GF-Value ratio stands at 0.37, with a GuruFocus Value of $9.53. This valuation suggests that the stock is currently categorized as a Possible Value Trap, Think Twice, according to GuruFocus metrics.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on the company's historical returns and growth, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
