Jamf (JAMF) Declined on Slow Market Growth

Mairs & Power, an investment advisor, released the “Mairs & Power Small Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The Mairs & Power Small Cap Fund was down 2.04% year-to-date while the S&P Small Cap 600 TR benchmark was up 0.81%, and the Morningstar U.S. Fund Small Blend was up by 2.91%. The Fund’s lack of Energy equities and holdings in the Finance, Technology, Consumer Discretionary, Utilities, and Materials sectors have resulted in year-to-date underperformance relative to the benchmark. Relative outperformance in the consumer staples, real estate, healthcare, industrials, and communications services sectors helped to partially offset this. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Mairs & Power Small Cap Fund highlighted stocks like Jamf Holding Corp. (NASDAQ:JAMF) in the third quarter 2023 investor letter. Headquartered in Minneapolis, Minnesota, Jamf Holding Corp. (NASDAQ:JAMF) provides a cloud software platform for Apple infrastructure and security platform. On November 27, 2023, Jamf Holding Corp. (NASDAQ:JAMF) stock closed at $16.60 per share. One-month return of Jamf Holding Corp. (NASDAQ:JAMF) was 3.36%, and its shares lost 16.20% of their value over the last 52 weeks. Jamf Holding Corp. (NASDAQ:JAMF) has a market capitalization of $2.088 billion.

Mairs & Power Small Cap Fund made the following comment about Jamf Holding Corp. (NASDAQ:JAMF) in its Q3 2023 investor letter:

“Looking at individual stocks, year-to-date relative underperformance was driven in part by several stocks Jamf Holding Corp. (NASDAQ:JAMF), a Minnesota-based provider of enterprise software for managing and securing Apple devices, has seen end market growth slow post pandemic.”

A close-up of a laptop screen displaying cloud platform application software.

Jamf Holding Corp. (NASDAQ:JAMF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Jamf Holding Corp. (NASDAQ:JAMF) at the end of third quarter which was 9 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.