Citigroup Inc. cut its position in shares of j2 Global, Inc. (NASDAQ:JCOM) by 80.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,736 shares of the technology company’s stock after selling 31,472 shares during the quarter. Citigroup Inc.’s holdings in j2 Global were worth $659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of j2 Global by 14.8% during the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock worth $121,000 after buying an additional 186 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of j2 Global by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock worth $150,000 after buying an additional 241 shares during the period. First Mercantile Trust Co. increased its position in shares of j2 Global by 1.9% during the second quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock worth $183,000 after buying an additional 40 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of j2 Global during the first quarter worth $206,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of j2 Global during the first quarter worth $215,000.
j2 Global, Inc. (JCOM) opened at 76.71 on Wednesday. The company’s 50-day moving average is $74.10 and its 200 day moving average is $81.60. j2 Global, Inc. has a 52 week low of $62.55 and a 52 week high of $91.48. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 25.70 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.06). The company had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $271.89 million. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, analysts forecast that j2 Global, Inc. will post $5.76 EPS for the current fiscal year.
Several research analysts recently issued reports on JCOM shares. BidaskClub raised shares of j2 Global from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. cut their target price on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, August 7th. Zacks Investment Research lowered shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Robert W. Baird reissued a “buy” rating and set a $94.00 target price on shares of j2 Global in a research note on Friday, September 1st. Finally, ValuEngine lowered shares of j2 Global from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $101.75.
j2 Global Company Profile
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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