Jamf (NASDAQ:JAMF) Stock Price Up 6.1% After Better-Than-Expected Earnings

Jamf Holding Corp. (NASDAQ:JAMF)’s stock price traded up 6.1% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $21.41 and last traded at $20.91. 47,238 shares traded hands during trading, a decline of 89% from the average session volume of 414,282 shares. The stock had previously closed at $19.71.

The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The business had revenue of $152.12 million for the quarter, compared to analysts’ expectations of $149.21 million. Jamf had a negative net margin of 19.64% and a negative return on equity of 6.12%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share.

Analyst Ratings Changes

JAMF has been the topic of a number of recent research reports. Mizuho raised their price objective on Jamf from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of Jamf in a research note on Thursday. Barclays increased their price objective on Jamf from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Jamf in a research note on Thursday, March 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Insider Activity

In related news, CFO Ian Goodkind sold 51,439 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $20.07, for a total value of $1,032,380.73. Following the completion of the sale, the chief financial officer now owns 244,699 shares of the company’s stock, valued at $4,911,108.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Jamf news, CFO Ian Goodkind sold 51,439 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $20.07, for a total value of $1,032,380.73. Following the completion of the sale, the chief financial officer now directly owns 244,699 shares in the company, valued at $4,911,108.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Beth Tschida sold 7,526 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $18.27, for a total value of $137,500.02. Following the transaction, the insider now owns 340,422 shares in the company, valued at approximately $6,219,509.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,323 shares of company stock valued at $4,393,336. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Jamf

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Jamf by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,188,675 shares of the company’s stock worth $126,952,000 after acquiring an additional 130,500 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Jamf by 36.9% during the fourth quarter. Nordea Investment Management AB now owns 182,194 shares of the company’s stock valued at $3,316,000 after purchasing an additional 49,120 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Jamf by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 444,538 shares of the company’s stock worth $7,851,000 after purchasing an additional 49,252 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Jamf by 6.0% in the 3rd quarter. Clearbridge Investments LLC now owns 2,058,012 shares of the company’s stock worth $36,344,000 after buying an additional 115,808 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Jamf during the 4th quarter valued at approximately $163,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

Jamf Stock Up 3.9 %

The firm has a market cap of $2.63 billion, a PE ratio of -22.15 and a beta of 0.47. The stock has a 50 day simple moving average of $18.42 and a 200-day simple moving average of $18.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.95 and a quick ratio of 0.95.

Jamf Company Profile

Jamf Holding Corp. offers a cloud software platform for Apple infrastructure and security platform in the Americas, Europe, the Middle East, India, and Africa. Its products include Jamf Pro, an Apple ecosystem management software solution for IT environments; Jamf Now, a pay-as-you-go Apple device management software solution for small-to-medium-sized businesses; Jamf School, an apple mobile device management for schools; and Jamf Connect, a ZTNA solution that replaces legacy conditional access and VPN technology.