Royce & Associates LP Sells 156,775 Shares of JFrog Ltd. $FROG

Royce & Associates LP lowered its position in shares of JFrog Ltd. (NASDAQ:FROG) by 31.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,766 shares of the company’s stock after selling 156,775 shares during the quarter. Royce & Associates LP owned 0.28% of JFrog worth $33,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP grew its holdings in shares of JFrog by 83.1% in the second quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $59,000 after acquiring an additional 294 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of JFrog during the first quarter valued at approximately $30,000. Bessemer Group Inc. purchased a new stake in shares of JFrog during the first quarter valued at approximately $36,000. GK Wealth Management LLC bought a new stake in JFrog during the third quarter worth $74,000. Finally, GAMMA Investing LLC lifted its holdings in JFrog by 418.1% during the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock worth $97,000 after acquiring an additional 807 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Stock Up 2.7%

JFrog stock traded up $3.00 during trading on Friday, hitting $113.60. The stock had a trading volume of 2,276,995 shares, compared to its average volume of 2,392,486. JFrog Ltd. has a 1 year low of $34.05 and a 1 year high of $114.44. The stock’s 50 day moving average is $94.87 and its two-hundred day moving average is $73.87. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of -631.11 and a beta of 1.31.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. JFrog had a negative return on equity of 1.55% and a negative net margin of 3.29%. The business had revenue of $179.17 million during the quarter, compared to analyst estimates of $165.92 million. During the same period in the prior year, the company earned $0.22 earnings per share. JFrog’s revenue was up 30.9% compared to the same quarter last year. As a group, equities research analysts anticipate that JFrog Ltd. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on FROG shares. Weiss Ratings reissued a “sell (d-)” rating on shares of JFrog in a research report on Thursday, October 15th. DA Davidson reaffirmed a “buy” rating and set a $115.00 target price on shares of JFrog in a research report on Friday, September 4th. JPMorgan Chase & Co. raised their target price on JFrog from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price on shares of JFrog in a research note on Thursday, September 3rd. Finally, Piper Sandler boosted their price target on shares of JFrog from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 6th. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.10.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 249,300 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $100.72, for a total transaction of $25,109,496.00. Following the completion of the transaction, the chief technology officer owned 5,199,038 shares in the company, valued at approximately $523,647,107.36. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Tali Notman sold 19,157 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $90.51, for a total value of $1,733,900.07. Following the transaction, the executive owned 687,472 shares of the company’s stock, valued at $62,223,090.72. The trade was a 2.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 735,453 shares of company stock worth $70,307,366 over the last quarter. 11.80% of the stock is currently owned by corporate insiders.

JFrog Company Profile

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment. Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.