In a significant transaction, entities associated with Vista Equity Partners have collectively sold a substantial number of shares in Jamf (NASDAQ:JAMF) Holding Corp (NASDAQ:JAMF), a leader in cloud-based management solutions for Apple (NASDAQ:AAPL) devices. The sale totaled over $163 million, with shares being sold at a price of $18.25 each.
This sale involved multiple entities under the Vista Equity Partners umbrella. Vista Equity Partners Fund VI, L.P., Vista Equity Partners Fund VI-A, L.P., VEPF VI FAF, L.P., Vista Co-Invest Fund 2017-1, L.P., and VEPF VI Co-Invest 1, L.P. were the entities that divested from Jamf Holding Corp. The transaction was part of an underwritten public offering pursuant to Jamf Holding Corp's Registration Statement on Form S-3.
The total number of shares sold by the reporting entities on May 16, 2024, amounted to 8,956,522 shares of common stock. The breakdown of the sale is as follows: Vista Equity Partners Fund VI, L.P. sold 4,800,780 shares, Vista Equity Partners Fund VI-A, L.P. sold 2,900,165 shares, VEPF VI FAF, L.P. sold 58,419 shares, Vista Co-Invest Fund 2017-1, L.P. sold 886,784 shares, and VEPF VI Co-Invest 1, L.P. sold 310,374 shares.
Following the sale, the collective ownership of Vista Equity Partners entities in Jamf Holding Corp now stands at 45,358,762 shares. The ownership is indirect, with the shares being held through various partnerships and limited partnerships that are part of the Vista Equity Partners group.
The transaction was reported in a Form 4 filing with the Securities and Exchange Commission. The filing provides transparency into the trading activities of company insiders and large shareholders, offering investors insight into the movements of significant stakeholders.
Vista Equity Partners is known for its investments in software, data, and technology-enabled organizations. Jamf Holding Corp, on the other hand, specializes in Apple device management and has been a notable player in the tech industry. The sale represents a notable realignment of Vista Equity Partners' investment in the company, although the reasons for the sale have not been disclosed.
Investors and market watchers often look to such transactions for signals about the health and strategic direction of a company. As with all trading activities by major shareholders, the market will be keen to see how this sale impacts Jamf Holding Corp's stock performance in the coming days and weeks.
InvestingPro Insights
As Vista Equity Partners reduces its stake in Jamf Holding Corp (NASDAQ:JAMF), investors might be curious about the company's current financial health and market position. According to InvestingPro data, Jamf has a market capitalization of $2.32 billion, reflecting the company's scale in the cloud-based Apple device management sector. Despite recent market volatility, Jamf's revenue has shown resilience, with a growth of 15.47% over the last twelve months as of Q1 2024. This indicates a strong demand for the company's services, which could be a positive signal for investors considering the recent large-scale sell-off.
InvestingPro Tips suggest that while the P/E ratio stands at a negative -21.44, indicating that the company is not currently profitable, the robust gross profit margin of 79.81% over the same period demonstrates Jamf's ability to maintain a high level of profitability on its services once it scales past its current operating losses. Additionally, the company's revenue growth quarter-over-quarter remains steady at 15.06% in Q1 2024.
For investors seeking more in-depth analysis, InvestingPro offers additional insights. There are more InvestingPro Tips available that could help investors make more informed decisions about Jamf Holding Corp and other investments. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and access these valuable resources.
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