MINNEAPOLIS—Lam Linh, Chief Information Officer of Jamf (NASDAQ:JAMF) Holding Corp. (NASDAQ:JAMF), recently sold shares of the company's stock, according to a Form 4 filing with the Securities and Exchange Commission. On October 17, Linh sold a total of 7,702 shares, realizing approximately $127,537. The shares were sold at a weighted average price of $16.559, with individual transaction prices ranging from $16.45 to $16.73.
Following this transaction, Linh holds 187,438 shares of Jamf Holding Corp. common stock. The sales were conducted under a pre-arranged trading plan, adopted on May 21, 2024, as part of a Rule 10b5-1 trading plan.
In other recent news, Jamf Holding Corp. reported a 13% year-over-year increase in Q2 revenue, with non-GAAP operating income of $23.5 million and annual recurring revenue (ARR) of $621.7 million. The company's security ARR also grew by 27% to $145 million. For Q3 2024, Jamf projects revenue to range between $156.5 million and $158.5 million, and full-year revenue to be between $622.5 million and $645.5 million.
Morgan Stanley (NYSE:MS) initiated coverage on Jamf with an Equalweight rating, projecting a compound annual growth rate of approximately 10% for the company's revenue and ARR over the next two years. BofA Securities, Mizuho, and Needham also provided their ratings on Jamf, citing factors such as recent executive changes and the company's competitive position in Apple (NASDAQ:AAPL) device management.
In recent developments, Jamf introduced new Apple management tools at its 15th annual Jamf Nation User Conference. These tools include Declarative Device Management and a redesigned Self Service app. The company also announced key executive changes, with Andrew Smeaton appointed as Chief Information Security Officer, and Marc Botham serving as Global Vice President of Channel and Alliances. David Rudow will step in as the new Chief Financial Officer following Ian Goodkind's decision to leave the company.
InvestingPro Insights
As Jamf Holding Corp.'s CIO Lam Linh reduces his stake, investors may find value in examining the company's current financial position. According to InvestingPro data, Jamf boasts a market capitalization of $2.11 billion, reflecting its significant presence in the enterprise software market. The company's revenue growth of 14.6% over the last twelve months as of Q2 2024 demonstrates continued expansion, aligning with the broader trend in the tech sector.
Jamf's gross profit margin stands at an impressive 79.72%, indicating strong pricing power and efficient cost management in its core operations. This robust margin could provide a cushion as the company navigates market challenges and invests in growth initiatives.
InvestingPro Tips highlight additional insights for potential investors. One tip suggests that Jamf is trading near its 52-week low, which may present an opportunity for value-oriented investors. Another tip notes that analysts have recently revised their earnings expectations upwards for the company, potentially signaling improved future performance.
These tips are just a sample of the valuable insights available through InvestingPro, which offers 14 additional tips for Jamf Holding Corp. to help investors make more informed decisions.
With Jamf's next earnings date set for November 6, 2024, investors will be keen to see if the company can maintain its growth trajectory and capitalize on its strong market position. The InvestingPro Fair Value of $21.79 suggests there may be upside potential from the current trading price, offering food for thought for those considering the stock in light of recent insider selling activity.
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