Published on 11 Dec 2021 on Insider Monkey via Yahoo Finance

8×8, Inc. (EGHT): Hedge Funds Are Taking Some Chips Off The Table

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 867 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of September 30th. In this article we look at what those investors think of 8x8, Inc. (NYSE:EGHT).

8x8, Inc. (NYSE:EGHT) investors should pay attention to a decrease in support from the world's most elite money managers of late. 8x8, Inc. (NYSE:EGHT) was in 27 hedge funds' portfolios at the end of the third quarter of 2021. The all time high for this statistic is 29. Our calculations also showed that EGHT isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings).

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. Keeping this in mind let's take a look at the fresh hedge fund action encompassing 8x8, Inc. (NYSE:EGHT).