JFrog Ltd. (NASDAQ:FROG – Get Free Report)’s stock price shot up 5.7% during mid-day trading on Thursday . The stock traded as high as $29.95 and last traded at $29.85. 708,347 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,284,951 shares. The stock had previously closed at $28.25.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Morgan Stanley dropped their target price on JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of JFrog in a report on Monday, September 16th. Canaccord Genuity Group cut their price objective on JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus dropped their target price on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Robert W. Baird initiated coverage on shares of JFrog in a research note on Tuesday, August 27th. They set an “outperform” rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, JFrog presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.28.
JFrog Trading Up 5.6 %
JFrog (NASDAQ:FROG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The business had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 million. As a group, analysts predict that JFrog Ltd. will post -0.28 earnings per share for the current year.
Insider Activity
In other JFrog news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the sale, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other JFrog news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the sale, the director now directly owns 4,549,432 shares in the company, valued at approximately $176,290,490. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total transaction of $557,598.36. Following the completion of the sale, the chief executive officer now directly owns 5,027,493 shares in the company, valued at $136,043,960.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,481 shares of company stock worth $6,407,447 over the last 90 days. 15.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On JFrog
A number of institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC acquired a new stake in JFrog during the fourth quarter worth about $338,000. Nebula Research & Development LLC increased its holdings in shares of JFrog by 7.8% during the 4th quarter. Nebula Research & Development LLC now owns 23,043 shares of the company’s stock valued at $798,000 after purchasing an additional 1,670 shares in the last quarter. Flight Deck Capital LP acquired a new position in shares of JFrog in the 4th quarter valued at $3,357,000. Syon Capital LLC acquired a new position in shares of JFrog in the 4th quarter valued at $22,086,000. Finally, Vanguard Group Inc. boosted its holdings in JFrog by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,055,519 shares of the company’s stock worth $244,192,000 after buying an additional 23,030 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.
JFrog Company Profile
JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.
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