On July 17, 2023, Suzy Seandel, Chief Accounting Officer of 8x8 Inc (EGHT, Financial), sold 28,418 shares of the company. This move comes amidst a year where Seandel has sold a total of 28,418 shares and purchased none.
Suzy Seandel has been with 8x8 Inc for several years, serving in various financial roles before her current position as Chief Accounting Officer. Her insider knowledge of the company's financial health and operations makes her trading activities particularly noteworthy for investors.
8x8 Inc is a technology company that provides Voice over IP products. 8x8 Inc offers voice, video, chat, and contact center services via cloud. The company also provides APIs for third-party developers to build and deploy custom applications.
The insider transaction history for 8x8 Inc shows a trend of more sells than buys over the past year. There have been 55 insider sells and 0 insider buys in total. This could indicate that insiders believe the company's stock is currently overvalued.
On the day of Seandel’s recent sell, shares of 8x8 Inc were trading for $4.49 apiece, giving the stock a market cap of $550.985 million. However, the GuruFocus Value of the stock stands at $17.79, indicating a price-to-GF-Value ratio of 0.25. This suggests that the stock may be a possible value trap, and investors should think twice before investing.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company’s past returns and growth, and future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider sell by Suzy Seandel, coupled with the stock's low price-to-GF-Value ratio, suggests that investors should exercise caution when considering an investment in 8x8 Inc. As always, potential investors should conduct their own research and consider their financial situation before making investment decisions.
