JFrog (NASDAQ:FROG) Trading Down 2.8%

JFrog Ltd. (NASDAQ:FROG) dropped 2.8% during mid-day trading on Wednesday . The company traded as low as $42.65 and last traded at $42.96. Approximately 381,671 shares were traded during trading, a decline of 71% from the average daily volume of 1,331,289 shares. The stock had previously closed at $44.22.

Analyst Ratings Changes

FROG has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised their price target on shares of JFrog from $40.00 to $45.00 in a report on Thursday, March 7th. TheStreet upgraded shares of JFrog from a “d+” rating to a “c-” rating in a report on Friday, December 29th. Needham & Company LLC raised their price target on shares of JFrog from $40.00 to $55.00 in a report on Thursday, March 7th. DA Davidson lifted their target price on shares of JFrog from $45.00 to $55.00 in a report on Thursday, March 7th. Finally, Bank Of America (Bofa) lifted their target price on shares of JFrog from $36.00 to $54.00 in a report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and an average price target of $43.46.

JFrog Price Performance

The company’s 50-day simple moving average is $40.27 and its 200 day simple moving average is $32.18.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). JFrog had a negative net margin of 17.51% and a negative return on equity of 6.01%. The company had revenue of $97.26 million during the quarter, compared to analysts’ expectations of $93.07 million. As a group, equities research analysts forecast that JFrog Ltd. will post -0.21 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other news, Director Frederic Simon sold 150,000 shares of JFrog stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $47.27, for a total transaction of $7,090,500.00. Following the completion of the sale, the director now directly owns 4,759,432 shares of the company’s stock, valued at approximately $224,978,350.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Frederic Simon sold 150,000 shares of JFrog stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $47.27, for a total transaction of $7,090,500.00. Following the completion of the sale, the director now directly owns 4,759,432 shares of the company’s stock, valued at approximately $224,978,350.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 1,200 shares of JFrog stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $35.00, for a total transaction of $42,000.00. Following the sale, the chief executive officer now directly owns 4,969,129 shares of the company’s stock, valued at $173,919,515. The disclosure for this sale can be found here. In the last three months, insiders sold 472,555 shares of company stock valued at $20,934,357. Insiders own 30.60% of the company’s stock.

Institutional Trading of JFrog

Several institutional investors and hedge funds have recently modified their holdings of FROG. Bank of New York Mellon Corp increased its position in JFrog by 48.8% during the third quarter. Bank of New York Mellon Corp now owns 3,971,198 shares of the company’s stock worth $100,710,000 after purchasing an additional 1,302,699 shares during the last quarter. Lord Abbett & CO. LLC increased its position in JFrog by 243.0% during the third quarter. Lord Abbett & CO. LLC now owns 1,615,282 shares of the company’s stock worth $40,963,000 after purchasing an additional 1,144,315 shares during the last quarter. Goldman Sachs Group Inc. increased its position in JFrog by 455.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,097,340 shares of the company’s stock worth $23,121,000 after purchasing an additional 899,673 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of JFrog by 695.4% in the second quarter. Point72 Asset Management L.P. now owns 979,900 shares of the company’s stock worth $27,143,000 after acquiring an additional 856,700 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of JFrog by 57.8% in the fourth quarter. Voya Investment Management LLC now owns 2,059,047 shares of the company’s stock worth $71,264,000 after acquiring an additional 754,333 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

About JFrog

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.