Jamf (NASDAQ:JAMF) Shares Gap Up - Here's What Happened

Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.22, but opened at $8.65. Jamf shares last traded at $8.18, with a volume of 191,415 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC decreased their price target on Jamf from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday. Bank of America decreased their price target on Jamf from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays increased their price target on Jamf from $13.00 to $15.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. JMP Securities reiterated a "market outperform" rating and issued a $27.00 price target on shares of Jamf in a research report on Wednesday, May 28th. Finally, Morgan Stanley decreased their price target 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. Four 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.91.

Jamf Price Performance

The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -21.37, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $9.83 and a 200 day simple moving average of $12.12.

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

Insider Transactions at Jamf

In other news, insider Elizabeth Benz sold 11,526 shares of Jamf stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $10.70, for a total transaction of $123,328.20. Following the completion of the sale, the insider directly owned 347,249 shares in the company, valued at $3,715,564.30. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Beth Tschida sold 11,878 shares of Jamf stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $10.34, for a total value of $122,818.52. Following the sale, the insider owned 475,932 shares of the company's stock, valued at approximately $4,921,136.88. This represents a 2.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,957 shares of company stock valued at $755,361 in the last quarter. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Jamf

Several institutional investors have recently made changes to their positions in JAMF. GAMMA Investing LLC raised its stake in shares of Jamf by 32,950.0% in 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. Farther Finance Advisors LLC bought a new position in shares of Jamf in the 1st quarter valued at approximately $41,000. Quarry LP raised its stake in shares of Jamf by 148.7% in the 1st quarter. Quarry LP now owns 6,505 shares of the company's stock valued at $79,000 after acquiring an additional 3,889 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Jamf by 51.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,400 shares of the company's stock valued at $104,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Jamf in the 2nd quarter valued at approximately $115,000. 93.81% of the stock is currently owned by institutional investors and hedge funds.

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.