j2 Global CFO Sells $860,295 in Stock (JCOM)

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j2 Global (NASDAQ:JCOM) CFO Kathleen Griggs unloaded 16,708 shares of j2 Global stock on the open market in a transaction dated Friday, March 7th. The stock was sold at an average price of $51.49, for a total value of $860,294.92. Following the transaction, the chief financial officer now directly owns 20,140 shares in the company, valued at approximately $1,037,009. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

j2 Global (NASDAQ:JCOM) traded up 0.41% during mid-day trading on Friday, hitting $51.67. 222,870 shares of the company’s stock traded hands. j2 Global has a 52-week low of $36.33 and a 52-week high of $56.24. The stock has a 50-day moving average of $48.10 and a 200-day moving average of $49.26. The company has a market cap of $2.444 billion and a price-to-earnings ratio of 22.57.

j2 Global (NASDAQ:JCOM) last announced its earnings results on Thursday, February 13th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.02. The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $139.42 million. During the same quarter last year, the company posted $0.70 earnings per share. j2 Global’s revenue was up 35.3% compared to the same quarter last year. Analysts expect that j2 Global will post $3.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, February 20th. This is an increase from j2 Global’s previous quarterly dividend of $0.26.

Separately, analysts at Zacks upgraded shares of j2 Global from an “underperform” rating to a “neutral” rating in a research note on Tuesday, December 10th. They now have a $48.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $52.60.

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.

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