Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors’ consensus returns have been exceptional. In the following paragraphs, we find out what the billionaire investors and hedge funds think of Jamf Holding Corp. (NASDAQ:JAMF).
Jamf Holding Corp. (NASDAQ:JAMF) has experienced an increase in activity from the world’s largest hedge funds of late. Jamf Holding Corp. (NASDAQ:JAMF) was in 23 hedge funds’ portfolios at the end of September. The all time high for this statistic is 26. Our calculations also showed that JAMF isn’t among the 30 most popular stocks among hedge funds (click for Q3 rankings).
Chase Coleman of Tiger Global
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. With all of this in mind we’re going to take a look at the key hedge fund action surrounding Jamf Holding Corp. (NASDAQ:JAMF).
Do Hedge Funds Think JAMF Is A Good Stock To Buy Now?
At the end of the third quarter, a total of 23 of the hedge funds tracked by Insider Monkey were long this stock, a change of 21% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards JAMF over the last 25 quarters. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Robert Smith’s Vista Equity Partners has the biggest position in Jamf Holding Corp. (NASDAQ:JAMF), worth close to $2.0922 billion, accounting for 20.2% of its total 13F portfolio. The second most bullish fund manager is Chase Coleman of Tiger Global Management LLC, with a $107 million position; 0.2% of its 13F portfolio is allocated to the stock. Some other members of the smart money that hold long positions include Jeff Osher’s No Street Capital, D. E. Shaw’s D E Shaw and Renaissance Technologies. In terms of the portfolio weights assigned to each position Vista Equity Partners allocated the biggest weight to Jamf Holding Corp. (NASDAQ:JAMF), around 20.22% of its 13F portfolio. No Street Capital is also relatively very bullish on the stock, setting aside 3.77 percent of its 13F equity portfolio to JAMF.
As aggregate interest increased, key hedge funds were leading the bulls’ herd. Driehaus Capital, managed by Richard Driehaus, created the most valuable position in Jamf Holding Corp. (NASDAQ:JAMF). Driehaus Capital had $12.4 million invested in the company at the end of the quarter. Richard Walters II’s Stony Point Capital also initiated a $7.5 million position during the quarter. The other funds with new positions in the stock are Joseph Samuels’s Islet Management, Robert Henry Lynch’s Aristeia Capital, and Andrew Weiss’s Weiss Asset Management.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Jamf Holding Corp. (NASDAQ:JAMF) but similarly valued. These stocks are APi Group Corporation (NYSE:APG), Agree Realty Corporation (NYSE:ADC), Armstrong World Industries, Inc. (NYSE:AWI), Selective Insurance Group (NASDAQ:SIGI), RLI Corp. (NYSE:RLI), Park Hotels & Resorts Inc. (NYSE:PK), and Q2 Holdings Inc (NYSE:QTWO). This group of stocks’ market valuations resemble JAMF’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| APG | 34 | 1332275 | 0 |
| ADC | 20 | 155884 | 2 |
| AWI | 22 | 480178 | 5 |
| SIGI | 14 | 27641 | 0 |
| RLI | 18 | 192378 | 3 |
| PK | 22 | 201657 | 3 |
| QTWO | 20 | 178149 | 1 |
| Average | 21.4 | 366880 | 2 |
View table here if you experience formatting issues.
As you can see these stocks had an average of 21.4 hedge funds with bullish positions and the average amount invested in these stocks was $367 million. That figure was $2302 million in JAMF’s case. APi Group Corporation (NYSE:APG) is the most popular stock in this table. On the other hand Selective Insurance Group (NASDAQ:SIGI) is the least popular one with only 14 bullish hedge fund positions. Jamf Holding Corp. (NASDAQ:JAMF) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for JAMF is 58. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 31.1% in 2021 through December 9th and beat the market again by 5.1 percentage points. Unfortunately JAMF wasn’t nearly as popular as these 5 stocks and hedge funds that were betting on JAMF were disappointed as the stock returned -15.8% since the end of September (through 12/9) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as many of these stocks already outperformed the market since 2019.
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Disclosure: None. This article was originally published at Insider Monkey.
