Principal Financial Group Inc. Decreases Stake in Jamf Holding Corp. (NASDAQ:JAMF)

Principal Financial Group Inc. lowered its position in Jamf Holding Corp. (NASDAQ:JAMF - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,215,912 shares of the company's stock after selling 69,296 shares during the quarter. Principal Financial Group Inc. owned approximately 0.94% of Jamf worth $14,773,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in Jamf in the first quarter worth approximately $126,000. Cetera Investment Advisers purchased a new stake in shares of Jamf during the 4th quarter worth approximately $145,000. SG Americas Securities LLC lifted its position in shares of Jamf by 97.6% during the 1st quarter. SG Americas Securities LLC now owns 57,493 shares of the company's stock worth $699,000 after buying an additional 28,394 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Jamf during the 4th quarter worth approximately $931,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Jamf during the 4th quarter worth approximately $158,000. Hedge funds and other institutional investors own 93.81% of the company's stock.

Jamf Stock Performance

Shares of JAMF opened at $8.09 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $1.07 billion, a P/E ratio of -21.29, a P/E/G ratio of 1.58 and a beta of 0.37. The company's fifty day moving average is $10.13 and its two-hundred day moving average is $12.34. Jamf Holding Corp. has a 1 year low of $8.06 and a 1 year high of $19.05.

Jamf (NASDAQ:JAMF - Get Free Report) last announced its quarterly earnings data 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 firm 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 business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, sell-side analysts predict that Jamf Holding Corp. will post 0.05 earnings per share for the current year.

Insider Activity

In other Jamf news, insider Elizabeth Benz sold 11,526 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $10.70, for a total value of $123,328.20. Following the transaction, the insider directly owned 347,249 shares of the company's stock, valued at approximately $3,715,564.30. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Strosahl sold 16,125 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $10.75, for a total transaction of $173,343.75. Following the transaction, the chief executive officer directly owned 1,524,101 shares in the company, valued at approximately $16,384,085.75. This trade represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,957 shares of company stock valued at $755,361. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JMP Securities restated a "market outperform" rating and set a $27.00 price objective on shares of Jamf in a research report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their price objective on shares of Jamf from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Barclays lifted their target price on shares of Jamf from $13.00 to $15.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Morgan Stanley cut their target price on shares of Jamf from $16.00 to $14.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho set a $15.00 target price on shares of Jamf in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.50.

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.

Want to see what other hedge funds are holding JAMF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jamf Holding Corp. (NASDAQ:JAMF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.