Kennedy Capital Management LLC Reduces Holdings in JFrog Ltd. (NASDAQ:FROG)

Kennedy Capital Management LLC reduced its position in JFrog Ltd. (NASDAQ:FROG) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 158,222 shares of the company’s stock after selling 2,054 shares during the period. Kennedy Capital Management LLC’s holdings in JFrog were worth $4,653,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in JFrog during the fourth quarter worth approximately $32,878,000. Raymond James Financial Inc. purchased a new position in shares of JFrog during the fourth quarter worth approximately $30,554,000. Principal Financial Group Inc. increased its holdings in shares of JFrog by 55.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after acquiring an additional 514,895 shares during the period. TimesSquare Capital Management LLC raised its position in JFrog by 12.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after purchasing an additional 365,376 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in JFrog by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company’s stock valued at $259,882,000 after purchasing an additional 349,532 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Eduard Grabscheid sold 2,152 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.00, for a total value of $75,320.00. Following the completion of the transaction, the chief financial officer now owns 93,597 shares of the company’s stock, valued at approximately $3,275,895. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $36.73, for a total transaction of $652,875.75. Following the sale, the chief executive officer now directly owns 4,866,809 shares in the company, valued at $178,757,894.57. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,104 shares of company stock worth $15,587,729 over the last three months. 15.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial lifted their price objective on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Canaccord Genuity Group boosted their price target on JFrog from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Raymond James initiated coverage on JFrog in a research note on Friday. They set an “outperform” rating and a $40.00 price objective for the company. Morgan Stanley lifted their target price on JFrog from $36.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Barclays boosted their target price on JFrog from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

JFrog Stock Up 2.0 %

JFrog stock opened at $31.01 on Friday. The firm’s 50-day simple moving average is $34.59 and its 200 day simple moving average is $32.28. JFrog Ltd. has a 52 week low of $22.91 and a 52 week high of $43.00. The firm has a market capitalization of $3.55 billion, a PE ratio of -49.22 and a beta of 0.98.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). JFrog had a negative return on equity of 6.42% and a negative net margin of 16.16%. The business had revenue of $116.08 million for the quarter, compared to analysts’ expectations of $114.16 million. On average, research analysts expect that JFrog Ltd. will post -0.33 EPS for the current fiscal 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.