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Sylebra Capital LLC, a significant shareholder in 8x8 Inc (NASDAQ:EGHT), recently reported a sale of common stock. On March 24, 2025, Sylebra Capital sold 101,678 shares at a price of $2.23 per share, totaling approximately $226,741. Following this transaction, Sylebra Capital’s holdings in 8x8 Inc are reported to be 14,085,649 shares. The sale comes as 8x8, with a market capitalization of $291 million, shows a strong free cash flow yield according to InvestingPro data.
Sylebra Capital, along with Daniel Patrick Gibson, holds a substantial stake in 8x8 Inc through various affiliated investment entities. Despite the sale, the entities continue to maintain a significant position in the company. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. While the stock has shown notable volatility, InvestingPro analysis indicates the company is currently undervalued, with analysts projecting profitability this year. Discover more insights and 7 additional ProTips with an InvestingPro subscription.
In other recent news, 8x8 has announced its third-quarter fiscal year 2025 results, which were in line with consensus estimates for both revenue and earnings per share. However, the company has adjusted its full-year guidance downwards due to anticipated foreign exchange headwinds. In response to these developments, Needham analysts have raised their price target for 8x8 shares to $3.50, maintaining a Buy rating on the stock. This reflects confidence in the company’s balance sheet progress, despite challenges in near-term revenue growth.
Additionally, 8x8 has appointed Joel Neeb as Chief Transformation and Business Operations Officer. Neeb, who has a strong background in the Software-as-a-Service sector, will be responsible for aligning the company’s customer experience transformation with its operational outcomes. His appointment is part of 8x8’s broader strategy to enhance customer and partner impact through seamless communication solutions. The company recently underwent a rebranding to reflect its commitment to customer-centric transformation. Neeb’s leadership is expected to contribute significantly to 8x8’s growth and operational excellence.
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