Jamf (NASDAQ:JAMF) Reaches New 52-Week Low - Here's What Happened

Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.82 and last traded at $13.86, with a volume of 12436 shares trading hands. The stock had previously closed at $14.17.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Jamf in a report on Monday, October 14th. They set an "equal weight" rating and a $20.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Jamf in a research report on Friday, October 4th. Piper Sandler lowered their target price on Jamf from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday. Finally, JMP Securities restated a "market outperform" rating and issued a $30.00 price target on shares of Jamf in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Jamf presently has an average rating of "Moderate Buy" and a consensus price target of $22.78.

Jamf Price Performance

The company has a market cap of $1.80 billion, a P/E ratio of -25.69, a PEG ratio of 6.33 and a beta of 0.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 0.95. The company has a fifty day moving average price of $15.09 and a two-hundred day moving average price of $16.61.

Insider Buying and Selling at Jamf

In other Jamf news, insider Linh Lam sold 7,702 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $16.56, for a total value of $127,545.12. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Jamf

A number of institutional investors and hedge funds have recently modified their holdings of JAMF. Quarry LP increased its position in Jamf by 130.9% during the third quarter. Quarry LP now owns 2,478 shares of the company's stock worth $43,000 after buying an additional 1,405 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Jamf by 24.5% during the 4th quarter. Versant Capital Management Inc now owns 4,039 shares of the company's stock worth $57,000 after acquiring an additional 795 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Jamf by 57.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,653 shares of the company's stock worth $63,000 after acquiring an additional 1,327 shares during the last quarter. Assetmark Inc. raised its stake in Jamf by 45.9% in the 3rd quarter. Assetmark Inc. now owns 4,406 shares of the company's stock valued at $76,000 after acquiring an additional 1,387 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Jamf during the 2nd quarter valued at $81,000. 93.81% of the stock is owned by institutional investors.

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.