J2 Global Inc (NASDAQ:JCOM) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 3,412 put options on the company. This represents an increase of approximately 1,416% compared to the average volume of 225 put options.
J2 Global (NASDAQ:JCOM) last announced its earnings results on Thursday, October 31st. The technology company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. J2 Global had a return on equity of 29.54% and a net margin of 11.15%. The company had revenue of $344.14 million for the quarter, compared to the consensus estimate of $332.47 million. During the same period last year, the business posted $1.53 EPS. The company’s revenue was up 17.6% on a year-over-year basis. As a group, equities analysts predict that J2 Global will post 6.66 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on JCOM shares. downgraded J2 Global from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $105.00 target price (up from $100.00) on shares of J2 Global in a research note on Thursday, October 3rd. BidaskClub upgraded J2 Global from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating on shares of J2 Global in a research note on Monday, November 4th. Finally, downgraded J2 Global from a “buy” rating to a “hold” rating and set a $103.00 target price on the stock. in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. J2 Global presently has a consensus rating of “Buy” and an average target price of $107.14.
In related news, Director Jon Miller sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $98.57, for a total transaction of $1,971,400.00. Following the transaction, the director now owns 161,832 shares in the company, valued at approximately $15,951,780.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at . Also, Director Douglas Y. Bech sold 18,398 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $97.80, for a total value of $1,799,324.40. Following the transaction, the director now owns 139,347 shares in the company, valued at approximately $13,628,136.60. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of JCOM. Evoke Wealth LLC purchased a new stake in shares of J2 Global in the third quarter valued at approximately $25,000. Point72 Asset Management L.P. purchased a new stake in shares of J2 Global in the second quarter valued at approximately $27,000. Whittier Trust Co. boosted its stake in shares of J2 Global by 78.9% in the third quarter. Whittier Trust Co. now owns 322 shares of the technology company’s stock valued at $29,000 after buying an additional 142 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of J2 Global by 263.0% in the third quarter. Flagship Harbor Advisors LLC now owns 363 shares of the technology company’s stock valued at $32,000 after buying an additional 263 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of J2 Global in the second quarter valued at approximately $50,000.
About J2 Global
j2 Global, Inc, together with its subsidiaries, provides Internet services worldwide. It operates through three segments: Fax and Email Marketing; Voice, Backup, and Security; and Digital Media. The company offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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