Wasatch Advisors LP Cuts Stake in JFrog Ltd. (NASDAQ:FROG)

Wasatch Advisors LP reduced its stake in shares of JFrog Ltd. (NASDAQ:FROG) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,019,434 shares of the company’s stock after selling 448,183 shares during the quarter. Wasatch Advisors LP owned about 1.98% of JFrog worth $89,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in JFrog during the 4th quarter valued at approximately $2,206,000. Syon Capital LLC bought a new position in shares of JFrog during the 4th quarter valued at approximately $22,086,000. Vanguard Group Inc. boosted its position in shares of JFrog by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock valued at $178,344,000 after acquiring an additional 679,007 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of JFrog by 10.2% during the 4th 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 last quarter. Finally, Flight Deck Capital LP bought a new position in shares of JFrog during the 4th quarter valued at approximately $3,357,000. 85.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Tali Notman sold 6,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $42.60, for a total transaction of $255,600.00. Following the transaction, the executive now owns 522,348 shares in the company, valued at $22,252,024.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other JFrog news, CRO Tali Notman sold 6,000 shares of JFrog stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $42.60, for a total value of $255,600.00. Following the transaction, the executive now owns 522,348 shares in the company, valued at $22,252,024.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Yoav Landman sold 40,000 shares of JFrog stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $38.70, for a total value of $1,548,000.00. Following the completion of the transaction, the chief technology officer now owns 6,731,371 shares in the company, valued at approximately $260,504,057.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,325 shares of company stock worth $9,029,830. Company insiders own 15.70% of the company’s stock.

JFrog Price Performance

Shares of NASDAQ:FROG traded down $1.44 on Tuesday, hitting $36.00. 707,787 shares of the company’s stock were exchanged, compared to its average volume of 1,268,166. JFrog Ltd. has a 12 month low of $21.38 and a 12 month high of $48.81. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -76.59 and a beta of 0.96. The business’s 50 day simple moving average is $35.21 and its two-hundred day simple moving average is $37.36.

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

Analyst Ratings Changes

A number of research firms have recently commented on FROG. DA Davidson increased their target price on JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. Bank Of America (Bofa) increased their target price on JFrog from $36.00 to $54.00 in a research report on Thursday, March 7th. UBS Group began coverage on JFrog in a research report on Wednesday, May 22nd. They set a “buy” rating and a $41.00 target price for the company. Barclays began coverage on JFrog in a research report on Wednesday, June 26th. They set an “overweight” rating and a $50.00 target price for the company. Finally, Oppenheimer increased their target price on JFrog from $41.00 to $48.00 in a research report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.93.

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.