Palisade Capital Management LP Acquires New Position in Jamf Holding Corp. (NASDAQ:JAMF)

Palisade Capital Management LP bought a new position in shares of Jamf Holding Corp. (NASDAQ:JAMF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 622,783 shares of the company's stock, valued at approximately $7,567,000. Palisade Capital Management LP owned approximately 0.48% of Jamf as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in Jamf during the first quarter worth approximately $41,000. GAMMA Investing LLC lifted its holdings in shares of Jamf by 32,950.0% during the 1st quarter. GAMMA Investing LLC now owns 3,305 shares of the company's stock valued at $40,000 after acquiring an additional 3,295 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in 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 purchasing an additional 2,500 shares during the period. Versor Investments LP acquired a new stake in Jamf in the 4th quarter valued at $142,000. Finally, Cetera Investment Advisers purchased a new position in Jamf in the fourth quarter valued at about $145,000. Hedge funds and other institutional investors own 93.81% of the company's stock.

Insider Activity at Jamf

In related news, CEO John Strosahl sold 16,125 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $10.75, for a total value of $173,343.75. Following the completion of the sale, the chief executive officer directly owned 1,524,101 shares of the company's stock, valued at $16,384,085.75. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dean Hager sold 27,720 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $10.34, for a total value of $286,624.80. Following the transaction, the director directly owned 270,347 shares in the company, valued at approximately $2,795,387.98. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,957 shares of company stock worth $755,361. 2.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

JAMF has been the subject of several analyst reports. Morgan Stanley decreased their target price on Jamf from $16.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JMP Securities reissued a "market outperform" rating and set a $27.00 price target on shares of Jamf in a research report on Wednesday, May 28th. Barclays upped their price target on Jamf from $13.00 to $15.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Jamf from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Mizuho set a $15.00 target price on shares of Jamf in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.50.

Jamf Stock Up 0.7%

Shares of JAMF traded up $0.06 during trading on Friday, reaching $9.25. The company's stock had a trading volume of 652,922 shares, compared to its average volume of 634,269. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -24.34, a P/E/G ratio of 1.68 and a beta of 0.37. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $10.46 and a two-hundred day moving average of $12.58. Jamf Holding Corp. has a twelve month low of $8.87 and a twelve month high of $19.05.

Jamf (NASDAQ:JAMF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.13). The company had revenue of $167.62 million during the quarter, compared to analyst estimates of $166.22 million. Jamf had a negative net margin of 7.37% and a positive return on equity of 2.20%. The company's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 earnings per share. On average, sell-side analysts predict that Jamf Holding Corp. will post 0.05 EPS for the current fiscal year.

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.