Jamf (NASDAQ:JAMF) Sees Strong Trading Volume – Time to Buy?

Jamf Holding Corp. (NASDAQ:JAMF) shares saw an uptick in trading volume on Tuesday . 1,910,921 shares changed hands during trading, an increase of 75% from the previous session’s volume of 1,094,867 shares.The stock last traded at $13.0250 and had previously closed at $13.02.

Analysts Set New Price Targets

JAMF has been the subject of a number of research reports. Needham & Company LLC cut Jamf from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research note on Wednesday, October 29th. Morgan Stanley lifted their price target on shares of Jamf from $10.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, December 18th. Citigroup lowered shares of Jamf from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Jamf in a research note on Monday, November 3rd. Finally, Canaccord Genuity Group cut shares of Jamf from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $13.05 in a report on Wednesday, October 29th.

Jamf Stock Performance

The firm has a market cap of $1.75 billion, a PE ratio of -40.70, a PEG ratio of 1.80 and a beta of 0.47. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $10.73.

Jamf (NASDAQ:JAMF) last released its earnings results on Monday, November 10th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Jamf had a negative net margin of 5.98% and a positive return on equity of 4.43%. The firm had revenue of $183.49 million for the quarter, compared to analysts’ expectations of $177.15 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts forecast that Jamf Holding Corp. will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John Strosahl sold 43,650 shares of the company’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $9.88, for a total value of $431,262.00. Following the transaction, the chief executive officer owned 1,480,451 shares of the company’s stock, valued at approximately $14,626,855.88. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Linh Lam sold 3,210 shares of Jamf stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $9.95, for a total transaction of $31,939.50. Following the sale, the insider owned 250,308 shares of the company’s stock, valued at approximately $2,490,564.60. The trade was a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JAMF. Allianz Asset Management GmbH raised its position in Jamf by 1.9% during the second quarter. Allianz Asset Management GmbH now owns 77,702 shares of the company’s stock valued at $739,000 after purchasing an additional 1,440 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Jamf by 1.3% in the 2nd quarter. Engineers Gate Manager LP now owns 123,614 shares of the company’s stock worth $1,176,000 after acquiring an additional 1,556 shares during the last quarter. Fox Run Management L.L.C. raised its position in Jamf by 6.7% in the 2nd quarter. Fox Run Management L.L.C. now owns 29,541 shares of the company’s stock worth $281,000 after purchasing an additional 1,854 shares during the period. Rhumbline Advisers raised its position in Jamf by 2.2% in the 1st quarter. Rhumbline Advisers now owns 116,785 shares of the company’s stock worth $1,419,000 after purchasing an additional 2,522 shares during the period. Finally, Arizona State Retirement System lifted its stake in Jamf by 13.6% in the third quarter. Arizona State Retirement System now owns 21,448 shares of the company’s stock worth $229,000 after purchasing an additional 2,575 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

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.