Jamf (NASDAQ:JAMF) Hits New 12-Month Low Following Analyst Downgrade

Jamf Holding Corp. (NASDAQ:JAMF)’s share price hit a new 52-week low during mid-day trading on Friday after Barclays lowered their price target on the stock from $17.00 to $16.00. Barclays currently has an equal weight rating on the stock. Jamf traded as low as $13.30 and last traded at $13.71, with a volume of 224891 shares. The stock had previously closed at $14.73.

Several other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $21.00 target price on shares of Jamf in a research note on Wednesday. JPMorgan Chase & Co. started coverage on Jamf in a report on Thursday, February 6th. They set an “overweight” rating and a $20.00 target price on the stock. Piper Sandler reduced their price objective on shares of Jamf from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Jamf in a research report on Tuesday, January 21st. Finally, William Blair reiterated an “outperform” rating on shares of Jamf in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Jamf currently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Insider Buying and Selling

In other Jamf news, CAO Anthony Grabenau sold 3,706 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $14.13, for a total value of $52,365.78. Following the completion of the transaction, the chief accounting officer now owns 33,479 shares of the company’s stock, valued at $473,058.27. The trade was a 9.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jamf

A number of hedge funds and other institutional investors have recently modified their holdings of JAMF. Crestwood Capital Management L.P. bought a new stake in Jamf in the 3rd quarter worth approximately $3,470,000. Franklin Resources Inc. boosted its stake in shares of Jamf by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 516,635 shares of the company’s stock valued at $8,664,000 after purchasing an additional 38,429 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Jamf by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,751,340 shares of the company’s stock valued at $30,391,000 after purchasing an additional 134,314 shares during the last quarter. Atom Investors LP raised its position in Jamf by 213.4% in the 3rd quarter. Atom Investors LP now owns 132,036 shares of the company’s stock worth $2,291,000 after purchasing an additional 89,901 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Jamf by 54.0% in the fourth quarter. SG Americas Securities LLC now owns 29,099 shares of the company’s stock worth $409,000 after purchasing an additional 10,199 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

Jamf Trading Down 7.1 %

The firm’s 50-day simple moving average is $14.83 and its 200-day simple moving average is $16.03. The firm has a market capitalization of $1.75 billion, a PE ratio of -24.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.38. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51.

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.