In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), 8X8 Inc. (NASDAQ:EGHT) reported that Vanguard Group Inc. has picked up 4,438,712 of common stock as of 2017-02-09.

The acquisition brings the aggregate amount owned by Vanguard Group Inc. to a total of 4,438,712 representing a 4.90% stake in the company.

For those not familiar with the company, 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. Through a combination of open application program interface (API) and pre-built integrations, its solutions leverage critical customer context from internal data systems and customer relationship management (CRM) systems. Its software product, branded as 8×8 Virtual Office, delivers voice as a service across the world. 8×8 Virtual Office enables a customer to use a single business phone number to place and receive calls from any supported device. It provides software to enable a multi-channel contact center under the 8×8 Virtual Contact Center brand. Its Virtual Office Meetings software solution is a tool for teams within the enterprise to meet and collaborate on a shared project.

A glance at 8X8 Inc. (NASDAQ:EGHT)’s key stats reveals a current market capitalization of 1.39 billion based on 90.93 million shares outstanding and a price at last close of $15.70 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-07-28, Boyalife picked up 12,300 at a purchase price of $8.09. This brings their total holding to 195,534 as of the date of the filing.

On the sell side, the most recent transaction saw Harris unload 9,700 shares at a sale price of $15.64. This brings their total holding to 63,096.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on 8X8 Inc. (NASDAQ:EGHT) as things move forward to see if its progress aligns with these transactions.

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