Jamf (NASDAQ:JAMF) Shares Gap Up Following Earnings Beat

Jamf Holding Corp. (NASDAQ:JAMF) shares gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.33, but opened at $8.51. Jamf shares last traded at $8.49, with a volume of 824,808 shares changing hands.

The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. Jamf had a negative net margin of 7.36% and a positive return on equity of 3.07%. The company had revenue of $176.50 million during the quarter, compared to analyst estimates of $168.58 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JAMF shares. Barclays dropped their target price on shares of Jamf from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, July 21st. Morgan Stanley dropped their target price on shares of Jamf from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group dropped their target price on shares of Jamf from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday. JMP Securities dropped their target price on shares of Jamf from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday. Finally, Needham & Company LLC lowered their price target on shares of Jamf from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Jamf presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.

Insider Activity

In other Jamf news, CEO John Strosahl sold 16,125 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.75, for a total value of $173,343.75. Following the transaction, the chief executive officer owned 1,524,101 shares of the company’s stock, valued at $16,384,085.75. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Beth Tschida sold 11,878 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $10.34, for a total transaction of $122,818.52. Following the completion of the transaction, the insider directly owned 475,932 shares in the company, valued at $4,921,136.88. The trade was a 2.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,957 shares of company stock worth $755,361. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new position in Jamf in the first quarter valued at about $41,000. GAMMA Investing LLC lifted its position in Jamf by 32,950.0% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the company’s stock valued at $40,000 after buying an additional 3,295 shares during the last quarter. Quarry LP lifted its position in Jamf by 148.7% in the first quarter. Quarry LP now owns 6,505 shares of the company’s stock valued at $79,000 after buying an additional 3,889 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Jamf by 51.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,400 shares of the company’s stock valued at $104,000 after buying an additional 2,500 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in Jamf during the second quarter worth about $97,000. Institutional investors and hedge funds own 93.81% of the company’s stock.

Jamf Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $1.04 billion, a PE ratio of -20.28, a price-to-earnings-growth ratio of 1.29 and a beta of 0.36. The stock’s 50 day simple moving average is $8.91 and its 200-day simple moving average is $11.47.

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.