Shares of Jamf soar 51% in first day of trading

Posted:
in General Discussion
Shares of Apple mobile device management company Jamf soared 51% Wednesday after the company priced its initial public offering above expectations.

Credit: Jamf
Credit: Jamf


Jamf, which creates MDM software for Apple devices, filed for a $100 million IPO at the end of June. The company's stocks made their debut on the NASDAQ today.

The company's share price climbed as high as $51 in intra-day trading Wednesday -- a 92% increase -- before closing at $39.20, CNBC reported. The day before, Jamf priced its 18 million shares at $26 each.

The $39.20 closing price gives the MDM firm a market capitalization of $4.6 billion. CNBC notes that the firm's IPO gives investors "another way to bet on Apple."

In a prospectus document, Jamf says it currently has 40,000 customers deploying their technology on more than 17 million Apple devices. Its first quarter 2020 revenue climbed 37% year-over-year and its gross margin rose to 75%.

Jamf is principally controlled by Vista Equity Partners, which acquired a majority stake in the company in 2017. Based on the price at end of trading Wednesday, Vista Equity Partners' stake is worth more than $3.6 billion.

Although Apple has historically relied on third-party companies to provide MDM solutions to users, the Cupertino tech giant recently acquired Jamf competitor and MDM software maker Fleetsmith. That suggests that it could be looking into providing first-party MDM solutions for its customers.

Comments

  • Reply 1 of 8
    and no one here is half interested
    mrmacgeek
  • Reply 2 of 8
    XedXed Posts: 825member
    and no one here is half interested
    Speak for yourself. If you aren't interested in a topic the solution is to not post on a forum about the topic. Frankly it's odd when someone takes the time to show interest in a topic they claim to have no interest in.
    fruitstandninjafastasleepjony0libertyandfreewatto_cobra
  • Reply 3 of 8
    Sunny1Sunny1 Posts: 2member
    FWIW - it was supposed to open at $26, finally opened to the public at $46 and ended the day at $39. Institutional investors might have been able to buy at $26 but the public could buy only at $46. Doesn’t that put the stock 15% down from open?
    edited July 2020 ronnwatto_cobra
  • Reply 4 of 8
    jbockjbock Posts: 3member
    Xed said:
    and no one here is half interested
    Speak for yourself. If you aren't interested in a topic the solution is to not post on a forum about the topic. Frankly it's odd when someone takes the time to show interest in a topic they claim to have no interest in.
    Well I'm going to take the time to show interest in this comment about a comment. To be fair, perhaps the poster meant exactly what they said - "no one here is half interested" - thus everyone here is either disinterested or fully interested. That is a possibility...
    mrmacgeekwatto_cobra
  • Reply 5 of 8
    indiekidukindiekiduk Posts: 357member
    Sunny1 said:
    FWIW - it was supposed to open at $26, finally opened to the public at $46 and ended the day at $39. Institutional investors might have been able to buy at $26 but the public could buy only at $46. Doesn’t that put the stock 15% down from open?

    I'm seeing the same, open at 46.00, closed at 39.20 which means a 14.7% decline. A very different story, this article should be updated.

  • Reply 6 of 8
    carnegiecarnegie Posts: 943member
    Sunny1 said:
    FWIW - it was supposed to open at $26, finally opened to the public at $46 and ended the day at $39. Institutional investors might have been able to buy at $26 but the public could buy only at $46. Doesn’t that put the stock 15% down from open?
    Sunny1 said:
    FWIW - it was supposed to open at $26, finally opened to the public at $46 and ended the day at $39. Institutional investors might have been able to buy at $26 but the public could buy only at $46. Doesn’t that put the stock 15% down from open?

    I'm seeing the same, open at 46.00, closed at 39.20 which means a 14.7% decline. A very different story, this article should be updated.

    JAMF was down from the opening, yes. But it was up on the day.

    When calculating what a stock did on a given day, you use the previous day's close as the base not the given day's open. If the share price closed at $25 yesterday, opened at $40 today, and closed at $35 today, then it's up $10 today not down $5.

    With an IPO there is no previous day's close. In that case you use the IPO offering price, which was $26. JAMF was up $13.20 from that IPO offering price.

    Also, I'd note that JAMF wasn't supposed to open at $26. It wasn't supposed to open at any given price, that was going to depend on the bids an asks that came in before it opened from trading. The $26 was the IPO offering price. Quite often IPOs open well above the IPO offering price on the first day of trading.
    Sunny1ronnmuthuk_vanalingam
  • Reply 7 of 8
    jbock said:
    Xed said:
    and no one here is half interested
    Speak for yourself. If you aren't interested in a topic the solution is to not post on a forum about the topic. Frankly it's odd when someone takes the time to show interest in a topic they claim to have no interest in.
    Well I'm going to take the time to show interest in this comment about a comment. To be fair, perhaps the poster meant exactly what they said - "no one here is half interested" - thus everyone here is either disinterested or fully interested. That is a possibility...
    Perhaps this comment and the first are 100% meaningless and have no reason to be posted.  
  • Reply 8 of 8
    All that matters is that a closed closed today at $29.80 on January 4, 2021.
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