Shares of Jamf soar 51% in first day of trading

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

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.

8 Comments

mtlion2020 70 comments · 4 Years

About 4 years ago

and no one here is half interested

Xed 2855 comments · 4 Years

mtlion2020 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.

Sunny1 3 comments · 4 Years

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?

jbock 4 comments · 4 Years

Xed said:

mtlion2020 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...

indiekiduk 386 comments · 16 Years

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.