There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 3, 8x8 Inc.'s Director, Guy L Hecker Jr., invested $153,699.99 into 41,480 shares of EGHT, for a cost per share of $3.71. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Monday, bargain hunters could buy shares of 8x8 Inc. (NASD: EGHT) and achieve a cost basis 5.5% cheaper than Hecker Jr., with shares changing hands as low as $3.50 per share. 8x8 Inc. shares are currently trading down about 4% on the day. The chart below shows the one year performance of EGHT shares, versus its 200 day moving average:

Looking at the chart above, EGHT's low point in its 52 week range is $2.12 per share, with $5.44 as the 52 week high point — that compares with a last trade of $3.52. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months: