JFrog (NASDAQ:FROG) Price Target Lowered to $32.00 at TD Cowen

JFrog (NASDAQ:FROG) had its price objective decreased by TD Cowen from $50.00 to $32.00 in a research report released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. Stifel Nicolaus cut their target price on shares of JFrog from $45.00 to $30.00 and set a buy rating for the company in a research report on Thursday. Morgan Stanley cut their target price on shares of JFrog from $47.00 to $33.00 and set an overweight rating for the company in a research report on Thursday. Scotiabank cut their target price on shares of JFrog from $45.00 to $40.00 and set a sector perform rating for the company in a research report on Friday, May 10th. Needham & Company LLC restated a buy rating and set a $45.00 target price on shares of JFrog in a research report on Tuesday, June 25th. Finally, UBS Group dropped their price target on shares of JFrog from $41.00 to $30.00 and set a buy rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JFrog has a consensus rating of Moderate Buy and an average target price of $38.00.

JFrog Trading Up 5.9 %

NASDAQ:FROG traded up $1.46 on Thursday, reaching $26.14. 3,102,280 shares of the stock traded hands, compared to its average volume of 1,272,460. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -55.62 and a beta of 0.96. JFrog has a 12 month low of $21.38 and a 12 month high of $48.81. The company’s fifty day simple moving average is $35.00 and its 200 day simple moving average is $37.79.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. The company had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. Equities analysts anticipate that JFrog will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 57,550 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the transaction, the chief executive officer now owns 5,048,099 shares in the company, valued at $163,154,559.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total transaction of $1,144,500.00. Following the sale, the director now owns 4,619,432 shares of the company’s stock, valued at $151,055,426.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 57,550 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the sale, the chief executive officer now directly owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,107 shares of company stock worth $9,513,787. 15.70% of the stock is owned by insiders.

Institutional Investors Weigh In On JFrog

Hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new stake in JFrog during the fourth quarter valued at $2,206,000. Russell Investments Group Ltd. raised its stake in shares of JFrog by 394.2% in the first quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock valued at $1,268,000 after acquiring an additional 22,864 shares during the period. Syon Capital LLC purchased a new stake in shares of JFrog in the fourth quarter valued at $22,086,000. Thornburg Investment Management Inc. purchased a new stake in shares of JFrog in the first quarter valued at $5,337,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of JFrog by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,575,867 shares of the company’s stock valued at $54,542,000 after acquiring an additional 145,465 shares during the period. 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.