Jamf on 3-day losing streak after pricing stock offering

Jamf Holding

10/06/2021 18:44

** Shares of Apple  AAPL.O  management software provider
Jamf Holding  JAMF.O  down 4.8% at $32.06 after pricing
secondary offering
    ** JAMF shares have now lost ~12% amid 3-day slide
    ** Co late Weds priced 8.5 mln share offering at $33
 urn:newsml:reuters.com:*:nGNX6Kjf7B
    ** Co's sponsor Vista Equity Partners sold 8.3 mln shares to
cut its stake from ~62% to ~55%, or 63.3 mln shares, per filing
https://www.sec.gov/Archives/edgar/data/1721947/000110465921077681/tm2114856-1_s1.htm#tPASS
    ** Last month, JAMF announced $400 mln acquisition of cloud
security firm Wandera  urn:newsml:reuters.com:*:nGNX9rv5Yk, and forecasted FY 2021 rev
of $335-$341 mln, up ~25% at midpoint from $269.5 mln last year,
excluding Wandera  urn:newsml:reuters.com:*:nASA025V3
    ** With move on Thurs, shares up ~7% YTD and have current
market cap of ~$3.8 bln, per Refinitiv data
    ** Avg rating among 12 analysts covering JAMF is "buy" and
median PT is $43.50 - Refinitiv
    

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))