Jamf (NASDAQ:JAMF) Hits New 52-Week Low – Here’s What Happened

Shares of Jamf Holding Corp. (NASDAQ:JAMF) reached a new 52-week low during trading on Thursday . The stock traded as low as $11.72 and last traded at $11.88, with a volume of 182069 shares changing hands. The stock had previously closed at $12.65.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Jamf from $23.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, January 21st. Canaccord Genuity Group reiterated a “buy” rating and set a $21.00 price objective on shares of Jamf in a report on Wednesday, February 26th. Morgan Stanley started coverage on Jamf in a research note on Tuesday, March 18th. They set an “equal weight” rating and a $16.00 target price on the stock. Piper Sandler decreased their price target on Jamf from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of Jamf in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.30.

Jamf Trading Down 8.3 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 0.95. The company’s fifty day moving average is $14.32 and its two-hundred day moving average is $15.23. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -21.09, a P/E/G ratio of 1.02 and a beta of 0.39.

Insiders Place Their Bets

In related news, CAO Anthony Grabenau sold 3,706 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $14.13, for a total transaction of $52,365.78. Following the sale, the chief accounting officer now directly owns 33,479 shares of the company’s stock, valued at $473,058.27. This trade represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Strosahl sold 56,170 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $13.59, for a total value of $763,350.30. Following the completion of the sale, the chief executive officer now owns 1,540,226 shares in the company, valued at approximately $20,931,671.34. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,618 shares of company stock valued at $3,408,105. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP increased its stake in shares of Jamf by 130.9% in the 3rd quarter. Quarry LP now owns 2,478 shares of the company’s stock valued at $43,000 after purchasing an additional 1,405 shares in the last quarter. Blue Trust Inc. grew its holdings in Jamf by 238.0% in the fourth quarter. Blue Trust Inc. now owns 3,583 shares of the company’s stock valued at $50,000 after purchasing an additional 2,523 shares during the period. Versant Capital Management Inc increased its position in shares of Jamf by 24.5% in the fourth quarter. Versant Capital Management Inc now owns 4,039 shares of the company’s stock valued at $57,000 after buying an additional 795 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Jamf by 51.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,400 shares of the company’s stock worth $104,000 after buying an additional 2,500 shares during the period. Finally, Versor Investments LP purchased a new position in shares of Jamf during the 4th quarter valued at approximately $142,000. Institutional investors and hedge funds own 93.81% of the company’s stock.

About Jamf

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.