Jamf Holding Corp. (NASDAQ:JAMF) Sees Large Drop in Short Interest

Jamf Holding Corp. (NASDAQ:JAMF) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 2,800,000 shares, a drop of 7.3% from the November 30th total of 3,020,000 shares. Based on an average trading volume of 501,300 shares, the days-to-cover ratio is presently 5.6 days. Currently, 4.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Jamf in a report on Tuesday, October 1st. The Goldman Sachs Group began coverage on shares of Jamf in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $21.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Jamf in a research report on Friday, October 4th. Finally, Morgan Stanley initiated coverage on Jamf in a research report on Monday, October 14th. They set an “equal weight” rating and a $20.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.75.

Insider Activity at Jamf

In related news, insider Linh Lam sold 7,702 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $16.56, for a total transaction of $127,545.12. Following the transaction, the insider now owns 187,438 shares in the company, valued at $3,103,973.28. This trade represents a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Jamf

Several hedge funds have recently bought and sold shares of JAMF. Crestwood Capital Management L.P. acquired a new stake in shares of Jamf in the third quarter worth about $3,470,000. Franklin Resources Inc. lifted its holdings in Jamf by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 516,635 shares of the company’s stock worth $8,664,000 after purchasing an additional 38,429 shares during the last quarter. Atom Investors LP boosted its position in Jamf by 213.4% during the third quarter. Atom Investors LP now owns 132,036 shares of the company’s stock worth $2,291,000 after purchasing an additional 89,901 shares during the period. 272 Capital LP boosted its position in Jamf by 41.4% during the second quarter. 272 Capital LP now owns 151,932 shares of the company’s stock worth $2,507,000 after purchasing an additional 44,486 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Jamf by 28.2% during the third quarter. Principal Financial Group Inc. now owns 1,394,227 shares of the company’s stock valued at $24,190,000 after purchasing an additional 306,558 shares during the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.

Jamf Stock Performance

JAMF stock opened at $14.26 on Monday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -25.93, a P/E/G ratio of 6.33 and a beta of 0.36. The firm has a 50 day moving average of $15.49 and a two-hundred day moving average of $16.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51. Jamf has a 12 month low of $14.02 and a 12 month high of $21.41.

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.