Jamf (NASDAQ:JAMF) Trading 6.1% Higher on Earnings Beat

Shares of Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report) rose 6.1% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $21.41 and last traded at $20.91. Approximately 47,238 shares traded hands during trading, a decline of 89% from the average daily volume of 414,282 shares. The stock had previously closed at $19.71.

The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The business had revenue of $152.12 million for the quarter, compared to the consensus estimate of $149.21 million. Jamf had a negative return on equity of 6.12% and a negative net margin of 19.64%. The company's revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS.

Analysts Set New Price Targets

JAMF has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their target price on shares of Jamf from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of Jamf in a research report on Thursday. Mizuho raised their target price on shares of Jamf from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of Jamf from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Barclays boosted their price target on Jamf from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.14.

Insider Buying and Selling

In other news, Director Dean Hager sold 73,730 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $17.76, for a total transaction of $1,309,444.80. Following the completion of the sale, the director now owns 385,665 shares in the company, valued at approximately $6,849,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Jamf news, insider Jason Wudi sold 33,830 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $17.89, for a total transaction of $605,218.70. Following the completion of the sale, the insider now directly owns 378,276 shares in the company, valued at $6,767,357.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dean Hager sold 73,730 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $17.76, for a total transaction of $1,309,444.80. Following the completion of the sale, the director now owns 385,665 shares in the company, valued at $6,849,410.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,323 shares of company stock worth $4,393,336. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in shares of Jamf by 20.6% in the 4th quarter. Assetmark Inc. now owns 3,272 shares of the company's stock worth $59,000 after buying an additional 559 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Jamf in the fourth quarter valued at approximately $163,000. Dynamic Technology Lab Private Ltd acquired a new position in Jamf in the fourth quarter worth $184,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Jamf by 73.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,422 shares of the company's stock valued at $224,000 after acquiring an additional 5,264 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Jamf by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,710 shares of the company's stock valued at $233,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 93.81% of the company's stock.

Jamf Trading Up 1.2 %

The business's 50 day simple moving average is $18.45 and its 200-day simple moving average is $18.17. The stock has a market capitalization of $2.56 billion, a P/E ratio of -22.15 and a beta of 0.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.95 and a quick ratio of 0.95.

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.