Envestnet Asset Management Inc. Lowers Stake in J2 Global (JCOM)

Envestnet Asset Management Inc. cut its holdings in shares of J2 Global (NASDAQ:JCOM) by 18.7% during the fourth quarter, Holdings Channel reports. The fund owned 5,969 shares of the technology company’s stock after selling 1,373 shares during the quarter. Envestnet Asset Management Inc.’s holdings in J2 Global were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in JCOM. First Trust Advisors LP grew its position in shares of J2 Global by 14.7% during the fourth quarter. First Trust Advisors LP now owns 1,343,863 shares of the technology company’s stock worth $100,830,000 after acquiring an additional 172,539 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of J2 Global by 30.0% during the fourth quarter. Glenmede Trust Co. NA now owns 696,435 shares of the technology company’s stock worth $52,251,000 after acquiring an additional 160,917 shares during the last quarter. Lazard Asset Management LLC grew its position in J2 Global by 30.5% in the 4th quarter. Lazard Asset Management LLC now owns 584,881 shares of the technology company’s stock valued at $43,883,000 after buying an additional 136,589 shares during the last quarter. Guggenheim Capital LLC grew its position in J2 Global by 228.2% in the 4th quarter. Guggenheim Capital LLC now owns 187,471 shares of the technology company’s stock valued at $14,067,000 after buying an additional 130,353 shares during the last quarter. Finally, AXA purchased a new position in J2 Global in the 3rd quarter valued at $6,029,000.

In other J2 Global news, insider R Scott Turicchi sold 20,663 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $84.65, for a total value of $1,749,122.95. Following the completion of the sale, the insider now owns 246,395 shares of the company’s stock, valued at $20,857,336.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert J. Cresci sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $78.85, for a total value of $788,500.00. Following the completion of the sale, the director now directly owns 85,569 shares of the company’s stock, valued at approximately $6,747,115.65. The disclosure for this sale can be found here. In the last three months, insiders sold 36,663 shares of company stock valued at $3,016,093. 5.97% of the stock is owned by corporate insiders.

NASDAQ:JCOM opened at $81.18 on Tuesday. J2 Global has a 1-year low of $70.27 and a 1-year high of $91.48. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market capitalization of $3,892.50, a P/E ratio of 15.01, a PEG ratio of 1.79 and a beta of 0.83.

J2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.09. J2 Global had a net margin of 12.47% and a return on equity of 26.82%. The firm had revenue of $316.38 million for the quarter, compared to analyst estimates of $319.00 million. During the same period last year, the firm posted $1.49 EPS. J2 Global’s quarterly revenue was up 25.6% on a year-over-year basis. analysts forecast that J2 Global will post 5.55 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of J2 Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. William Blair reiterated an “outperform” rating on shares of J2 Global in a research report on Tuesday, March 27th. BidaskClub upgraded shares of J2 Global from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. ValuEngine lowered shares of J2 Global from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Finally, Robert W. Baird lifted their price objective on shares of J2 Global from $94.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $99.50.

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J2 Global Company Profile

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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

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