Thornburg Investment Management Inc. Grows Holdings in JFrog Ltd. (NASDAQ:FROG)

Thornburg Investment Management Inc. lifted its position in shares of JFrog Ltd. (NASDAQ:FROG) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,950 shares of the company’s stock after buying an additional 9,258 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.13% of JFrog worth $4,880,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. George Kaiser Family Foundation grew its stake in JFrog by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 75,037 shares of the company’s stock worth $2,818,000 after acquiring an additional 532 shares during the period. Advisors Asset Management Inc. grew its position in shares of JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares during the period. Lazard Asset Management LLC increased its stake in JFrog by 6.0% in the first quarter. Lazard Asset Management LLC now owns 15,549 shares of the company’s stock valued at $686,000 after purchasing an additional 879 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in JFrog during the fourth quarter worth about $35,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in JFrog in the 1st quarter worth about $44,000. Institutional investors and hedge funds own 85.02% of the company’s stock.

JFrog Trading Up 0.6 %

NASDAQ:FROG opened at $27.90 on Friday. The stock has a 50 day moving average of $31.74 and a 200-day moving average of $36.06. The firm has a market capitalization of $2.84 billion, a PE ratio of -59.36 and a beta of 0.94. JFrog Ltd. has a 52 week low of $21.38 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $103.04 million for the quarter, compared to analyst estimates of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. As a group, analysts predict that JFrog Ltd. will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 4,549,432 shares in the company, valued at $176,290,490. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other JFrog news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the completion of the sale, the chief technology officer now directly owns 6,642,242 shares of the company’s stock, valued at $170,572,774.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 203,040 shares of company stock worth $6,818,795. Insiders own 15.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FROG shares. Scotiabank cut their price objective on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. FBN Securities began coverage on shares of JFrog in a report on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 price target on the stock. Baird R W upgraded JFrog to a “strong-buy” rating in a report on Tuesday, August 27th. KeyCorp boosted their target price on JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus cut their price target on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.28.

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.