Park Avenue Securities LLC Takes Position in JFrog Ltd. (NASDAQ:FROG)

Park Avenue Securities LLC acquired a new position in JFrog Ltd. (NASDAQ:FROG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,169 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FROG. Vanguard Group Inc. boosted its stake in shares of JFrog by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock valued at $178,344,000 after purchasing an additional 679,007 shares during the last quarter. Syon Capital LLC bought a new position in JFrog in the fourth quarter valued at approximately $22,086,000. Norges Bank acquired a new stake in JFrog during the 4th quarter worth $16,661,000. 1832 Asset Management L.P. grew its holdings in JFrog by 269.3% during the 4th quarter. 1832 Asset Management L.P. now owns 369,300 shares of the company’s stock worth $12,781,000 after acquiring an additional 269,300 shares during the period. Finally, Insight Holdings Group LLC raised its position in shares of JFrog by 100.0% during the 4th quarter. Insight Holdings Group LLC now owns 410,564 shares of the company’s stock valued at $14,210,000 after acquiring an additional 205,282 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors and hedge funds.

JFrog Price Performance

FROG opened at $37.43 on Tuesday. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -79.64 and a beta of 0.96. The business’s 50-day moving average price is $35.28 and its two-hundred day moving average price is $37.33. JFrog Ltd. has a 1 year low of $21.38 and a 1 year high of $48.81.

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

Wall Street Analysts Forecast Growth

FROG has been the topic of several recent research reports. DA Davidson raised their price target on JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. Barclays initiated 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. UBS Group assumed coverage on shares of JFrog in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $41.00 price target on the stock. Scotiabank decreased their price objective on shares of JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, May 10th. Finally, Bank Of America (Bofa) increased their target price on shares of JFrog from $36.00 to $54.00 in a 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. According to data from MarketBeat.com, JFrog currently has an average rating of “Moderate Buy” and an average target price of $43.93.

Insider Buying and Selling

In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.32, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Ben Haim Shlomi sold 57,550 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $32.35, for a total value of $485,250.00. Following the completion of the sale, the chief technology officer now directly owns 6,747,142 shares of the company’s stock, valued at approximately $218,270,043.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,325 shares of company stock worth $9,029,830. 15.70% of the stock is owned by insiders.

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.