JFrog Ltd. $FROG Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 31.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,766 shares of the company’s stock after selling 156,775 shares during the quarter. Royce & Associates LP’s holdings in JFrog were worth $33,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FROG. Western Wealth Management LLC purchased a new position in JFrog in the 1st quarter valued at approximately $30,000. Bessemer Group Inc. bought a new stake in JFrog during the 1st quarter valued at $36,000. Allworth Financial LP raised its holdings in JFrog by 83.1% during the 2nd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $59,000 after acquiring an additional 294 shares during the period. GK Wealth Management LLC bought a new stake in JFrog during the 3rd quarter valued at $74,000. Finally, GAMMA Investing LLC lifted its position in shares of JFrog by 418.1% during the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock worth $97,000 after acquiring an additional 807 shares in the last quarter. 85.02% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Tali Notman sold 19,157 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $90.51, for a total value of $1,733,900.07. Following the transaction, the executive owned 687,472 shares of the company’s stock, valued at approximately $62,223,090.72. This represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Shlomi Ben Haim sold 45,700 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $85.35, for a total transaction of $3,900,495.00. Following the completion of the transaction, the chief executive officer directly owned 4,449,305 shares in the company, valued at approximately $379,748,181.75. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 735,453 shares of company stock valued at $70,307,366 over the last 90 days. Company insiders own 11.80% of the company’s stock.

JFrog Stock Performance

JFrog stock traded up $3.00 during midday trading on Friday, reaching $113.60. 2,276,995 shares of the stock were exchanged, compared to its average volume of 2,392,486. The company’s fifty day moving average is $94.87 and its 200-day moving average is $73.87. The firm has a market cap of $14.16 billion, a PE ratio of -631.11 and a beta of 1.31. JFrog Ltd. has a 52 week low of $34.05 and a 52 week high of $114.44.

JFrog (NASDAQ:FROG) last posted its earnings results on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. JFrog had a negative net margin of 3.29% and a negative return on equity of 1.55%. The business had revenue of $179.17 million for the quarter, compared to analysts’ expectations of $165.92 million. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, sell-side analysts anticipate that JFrog Ltd. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FROG. KeyCorp raised their price target on JFrog from $114.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. BTIG Research reiterated a “buy” rating and set a $115.00 price objective on shares of JFrog in a research note on Friday, September 4th. Truist Financial increased their price objective on JFrog from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $115.00 price objective on shares of JFrog in a report on Wednesday, November 4th. Finally, Wall Street Zen upgraded JFrog from a “hold” rating to a “buy” rating in a research note on Saturday. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, JFrog has an average rating of “Moderate Buy” and a consensus price target of $113.10.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment. Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.