Thornburg Investment Management Inc. Acquires New Position in JFrog Ltd. (NASDAQ:FROG)

Thornburg Investment Management Inc. bought a new position in JFrog Ltd. (NASDAQ:FROG) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 120,692 shares of the company’s stock, valued at approximately $5,337,000. Thornburg Investment Management Inc. owned approximately 0.12% of JFrog at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FROG. Arcadia Investment Management Corp MI purchased a new stake in JFrog in the first quarter worth about $26,000. Frazier Financial Advisors LLC bought a new position in JFrog in the fourth quarter worth approximately $35,000. Future Financial Wealth Managment LLC purchased a new stake in JFrog during the first quarter worth $44,000. RiverPark Advisors LLC bought a new stake in JFrog during the 1st quarter valued at $140,000. Finally, Duality Advisers LP purchased a new position in shares of JFrog in the 1st quarter worth approximately $205,000. 85.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JFrog

In other JFrog news, CTO Yoav Landman sold 15,100 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $33.27, for a total value of $502,377.00. Following the completion of the transaction, the chief technology officer now owns 6,716,271 shares in the company, valued at $223,450,336.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Ben Haim Shlomi sold 57,550 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the transaction, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Yoav Landman sold 15,100 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $33.27, for a total transaction of $502,377.00. Following the completion of the sale, the chief technology officer now directly owns 6,716,271 shares of the company’s stock, valued at approximately $223,450,336.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,207 shares of company stock worth $7,559,514. 15.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FROG has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of JFrog in a research report on Tuesday, June 25th. UBS Group initiated coverage on JFrog in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $41.00 price target for the company. Barclays initiated coverage on JFrog in a report on Wednesday, June 26th. They issued an “overweight” rating and a $50.00 price target for the company. FBN Securities assumed coverage on shares of JFrog in a research report on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, KeyCorp dropped their target price on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, JFrog currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.31.

JFrog Stock Down 3.8 %

Shares of FROG stock traded down $1.46 on Wednesday, hitting $37.19. The company had a trading volume of 551,108 shares, compared to its average volume of 1,212,115. The firm has a market cap of $3.79 billion, a P/E ratio of -82.23 and a beta of 0.96. JFrog Ltd. has a twelve month low of $21.38 and a twelve month high of $48.81. The company has a 50-day moving average price of $34.52 and a 200-day moving average price of $37.71.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $100.31 million during the quarter, compared to the consensus estimate of $98.63 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. Equities research analysts expect that JFrog Ltd. will post -0.21 EPS for the current year.

JFrog 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.