Acadian Asset Management LLC Sells 324,808 Shares of J2 Global, Inc. (NASDAQ:JCOM)

Acadian Asset Management LLC reduced its stake in J2 Global, Inc. (NASDAQ:JCOM) by 72.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,910 shares of the technology company’s stock after selling 324,808 shares during the period. Acadian Asset Management LLC owned approximately 0.27% of J2 Global worth $14,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Congress Asset Management Co. MA increased its holdings in J2 Global by 8.2% in the 1st quarter. Congress Asset Management Co. MA now owns 68,147 shares of the technology company’s stock valued at $8,168,000 after acquiring an additional 5,136 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in J2 Global by 3.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 24,425 shares of the technology company’s stock valued at $2,928,000 after acquiring an additional 823 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in J2 Global by 80.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 8,491 shares of the technology company’s stock valued at $829,000 after acquiring an additional 3,797 shares during the last quarter. Aperio Group LLC grew its stake in shares of J2 Global by 7.1% in the 4th quarter. Aperio Group LLC now owns 37,085 shares of the technology company’s stock worth $3,623,000 after buying an additional 2,458 shares in the last quarter. Finally, Alpha DNA Investment Management LLC purchased a new position in shares of J2 Global in the 4th quarter worth $815,000.

In other news, VP Jeremy Rossen sold 4,256 shares of the business’s stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $122.07, for a total value of $519,529.92. Following the completion of the sale, the vice president now owns 10,869 shares in the company, valued at approximately $1,326,778.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas Y. Bech sold 3,000 shares of the business’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $127.98, for a total transaction of $383,940.00. Following the completion of the sale, the director now owns 135,176 shares of the company’s stock, valued at approximately $17,299,824.48. The disclosure for this sale can be found here. Company insiders own 5.42% of the company’s stock.

JCOM stock opened at $127.54 on Friday. J2 Global, Inc. has a 12 month low of $53.24 and a 12 month high of $135.24. The business’s 50-day moving average price is $123.87. The stock has a market cap of $5.75 billion, a PE ratio of 25.26, a PEG ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78.

J2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Monday, May 10th. The technology company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.61. J2 Global had a net margin of 15.11% and a return on equity of 31.85%. The company had revenue of $398.20 million during the quarter, compared to analyst estimates of $362.11 million. During the same quarter last year, the business posted $1.40 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts predict that J2 Global, Inc. will post 8.86 earnings per share for the current fiscal year.

A number of equities analysts have commented on JCOM shares. JMP Securities lifted their price objective on shares of J2 Global from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 16th. Citigroup lifted their price objective on shares of J2 Global from $100.00 to $140.00 in a research note on Thursday, February 18th. Wedbush lifted their price objective on shares of J2 Global from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 12th. Barclays lifted their price objective on shares of J2 Global from $130.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 21st. Finally, Piper Sandler reissued a “neutral” rating and issued a $139.00 price objective (up from $122.00) on shares of J2 Global in a research note on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $123.17.

J2 Global Profile

J2 Global, Inc provides internet services worldwide. It operates through three segments: Fax and Martech; Voice, Backup, Security, and Consumer Privacy and Protection; and Digital Media. The company offers cloud services, which include cloud fax services under the eFax, sFax, SRFax, MyFax, and eFax Corporate brands; endpoint and email security, and threat intelligence services for real-time malware analysis under the VIPRE brand; Inspired eLearning, a SaaS platform for cybersecurity awareness and compliance training; virtual private network services under the IPVanish and Encrypt.me names; online file backup, synchronization, and sharing services under the SugarSync name; and online backup and sync storage services under the LiveDrive name.

Featured Article: What is required to own or exchange cryptocurrency?

Institutional Ownership by Quarter for J2 Global (NASDAQ:JCOM)

Receive News & Ratings for J2 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J2 Global and related companies with MarketBeat.com's FREE daily email newsletter.