Jamf (NASDAQ:JAMF) Sets New 12-Month Low - Time to Sell?

Key Points

• Jamf Holding Corp. shares hit a new 52-week low of $7.34, with analysts predicting a challenging outlook and several downgrading target prices significantly.
• The company reported quarterly earnings that missed expectations, posting an earnings per share of $0.08, below the consensus estimate of $0.21.
• Insider trading activity showed significant selling, with CEO John Strosahl and other insiders collectively offloading nearly 72,000 shares in recent months, indicating potential concerns about the stock's future performance.

Shares of Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $7.34 and last traded at $7.41, with a volume of 19752 shares traded. The stock had previously closed at $7.42.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $27.00 target price on shares of Jamf in a report on Wednesday, May 28th. Morgan Stanley lowered their price objective on shares of Jamf from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Mizuho decreased their target price on shares of Jamf from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Barclays decreased their target price on shares of Jamf from $15.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Jamf from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.45.

Jamf Stock Up 0.5%

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 $946.13 million, a price-to-earnings ratio of -18.83, a P/E/G ratio of 1.26 and a beta of 0.36. The firm's fifty day simple moving average is $9.03 and its 200 day simple moving average is $11.57.

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

Insider Activity

In related news, Director Dean Hager sold 27,720 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $10.34, for a total value of $286,624.80. Following the completion of the transaction, the director directly owned 270,347 shares of the company's stock, valued at approximately $2,795,387.98. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Strosahl sold 16,125 shares of Jamf 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 of the company's stock, 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. Insiders sold a total of 71,957 shares of company stock valued at $755,361 over the last three months. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Jamf

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 3,295 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Jamf in the first quarter valued at approximately $41,000. Quarry LP increased its stake in shares of 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 period. Savant Capital LLC acquired a new stake in Jamf during the 2nd quarter valued at approximately $97,000. Finally, Canada Pension Plan Investment Board increased 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 valued at $104,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 93.81% of the company's stock.

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.