JFrog Ltd. (NASDAQ:FROG) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in JFrog Ltd. (NASDAQ:FROG) by 17.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,094 shares of the company’s stock after selling 11,453 shares during the period. Summit Trail Advisors LLC owned about 0.05% of JFrog worth $1,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FROG. Sei Investments Co. raised its position in shares of JFrog by 3.3% in the second quarter. Sei Investments Co. now owns 104,724 shares of the company’s stock worth $3,932,000 after acquiring an additional 3,314 shares during the period. Granite Investment Partners LLC grew its position in shares of JFrog by 15.3% during the 2nd quarter. Granite Investment Partners LLC now owns 163,703 shares of the company’s stock valued at $6,147,000 after acquiring an additional 21,698 shares during the period. Blair William & Co. IL increased its stake in shares of JFrog by 30.2% in the 2nd quarter. Blair William & Co. IL now owns 278,677 shares of the company’s stock valued at $10,464,000 after purchasing an additional 64,668 shares in the last quarter. Renaissance Technologies LLC raised its holdings in JFrog by 17.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock worth $62,904,000 after purchasing an additional 254,100 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in JFrog by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock worth $62,636,000 after purchasing an additional 41,275 shares during the period. Institutional investors and hedge funds own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on FROG shares. Stifel Nicolaus dropped their price objective on JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler dropped their price target on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. DA Davidson restated a “buy” rating and set a $40.00 price objective on shares of JFrog in a research report on Wednesday, September 11th. Baird R W upgraded shares of JFrog to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, KeyCorp boosted their target price on shares of JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.28.

Insiders Place Their Bets

In other news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $25.68, for a total value of $385,200.00. Following the completion of the sale, the chief technology officer now owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $25.68, for a total transaction of $385,200.00. Following the completion of the transaction, the chief technology officer now directly owns 6,642,242 shares in the company, valued at approximately $170,572,774.56. The disclosure for this sale can be found here. Insiders have sold 218,040 shares of company stock valued at $7,238,795 over the last ninety days. Company insiders own 15.70% of the company’s stock.

JFrog Stock Performance

NASDAQ:FROG opened at $28.61 on Friday. JFrog Ltd. has a one year low of $21.38 and a one year high of $48.81. The stock has a market cap of $2.91 billion, a PE ratio of -60.87 and a beta of 0.93. The stock has a 50 day moving average price of $30.81 and a 200 day moving average price of $35.38.

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

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.