Jamf (NASDAQ:JAMF) Hits New 12-Month Low – Here’s Why

Jamf Holding Corp. (NASDAQ:JAMF)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $13.82 and last traded at $13.86, with a volume of 12436 shares changing hands. The stock had previously closed at $14.17.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JAMF. Piper Sandler dropped their target price on shares of Jamf from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Jamf in a report on Friday, October 4th. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Jamf in a report on Tuesday, October 1st. Finally, Morgan Stanley began coverage on Jamf in a report on Monday, October 14th. They set an “equal weight” rating and a $20.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.78.

Jamf Stock Down 1.1 %

The stock has a market cap of $1.79 billion, a P/E ratio of -25.47, a PEG ratio of 6.33 and a beta of 0.37. 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 firm’s 50-day moving average is $15.14 and its two-hundred day moving average is $16.62.

Insider Transactions at Jamf

In related news, insider Linh Lam sold 7,702 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $16.56, for a total value of $127,545.12. Following the transaction, the insider now directly owns 187,438 shares in the company, valued at $3,103,973.28. This represents a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Jamf

Several institutional investors and hedge funds have recently made changes to their positions in JAMF. Rhumbline Advisers increased its stake in shares of Jamf by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 102,206 shares of the company’s stock valued at $1,686,000 after acquiring an additional 5,376 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Jamf in the second quarter worth $562,000. TradeLink Capital LLC bought a new position in shares of Jamf during the second quarter worth $259,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Jamf in the 2nd quarter valued at $183,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Jamf by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,831,566 shares of the company’s stock valued at $30,216,000 after buying an additional 15,946 shares in the last quarter. Institutional investors own 93.81% of the company’s stock.

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.