Domo signs strategic collaboration agreement with AWS for AI solutions
Jamf Holding Corp. (NASDAQ:JAMF), a $1.7 billion market cap enterprise software company, saw its Chief Information Officer Lam Linh recently execute a significant stock sale, according to a recent SEC filing. On March 19, Linh sold 47,815 shares of common stock at a weighted average price of $13.5996 per share, totaling approximately $650,264. This transaction was conducted under a Rule 10b5-1 trading plan, which Linh adopted in May 2024. The sale occurred with the stock trading near its 52-week low of $12.89, significantly below its high of $21.41. InvestingPro analysis indicates the stock is currently undervalued. Following the sale, Linh retains direct ownership of 253,518 shares in the company. The shares were sold at prices ranging from $13.46 to $13.70. Despite recent price weakness, Jamf maintains strong fundamentals with 11.92% revenue growth and a FAIR financial health score. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Jamf Holding Corp. announced its acquisition of Identity Automation for approximately $215 million in cash, a strategic move expected to enhance Jamf’s cybersecurity offerings and expand its reach in identity management across various sectors. This acquisition is anticipated to positively impact Jamf’s revenue growth and operating income, aligning with the company’s strategy to broaden its market presence. Analysts at Needham have maintained a Buy rating with a $25 price target for Jamf, viewing the acquisition as a significant opportunity for expansion. Meanwhile, JPMorgan has adjusted its price target to $18 from $20, citing a more cautious outlook for 2025 despite stable macroeconomic conditions. Mizuho (NYSE:MFG) also revised its price target to $18, maintaining an Outperform rating, reflecting on Jamf’s strong market position and potential for growth. The company reported annual recurring revenue growth of 10% year-over-year to $646 million, slightly below the expected $650 million, which influenced the revised price targets. Jamf’s management remains optimistic about future prospects, especially in the education and technology sectors, despite the recent guidance falling short of analysts’ expectations. The acquisition of Identity Automation is expected to close by the end of the second quarter of fiscal year 2025, subject to standard closing conditions.
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