Assenagon Asset Management S.A. Sells 218,898 Shares of JFrog Ltd. (NASDAQ:FROG)

Assenagon Asset Management S.A. trimmed its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 81.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,239 shares of the company’s stock after selling 218,898 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of JFrog worth $1,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of JFrog in the third quarter worth $29,000. West Tower Group LLC bought a new stake in shares of JFrog in the 3rd quarter valued at about $116,000. Sanctuary Advisors LLC acquired a new stake in shares of JFrog in the second quarter valued at about $188,000. US Bancorp DE raised its position in shares of JFrog by 13.6% during the third quarter. US Bancorp DE now owns 6,687 shares of the company’s stock worth $194,000 after acquiring an additional 798 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of JFrog by 7.0% in the second quarter. Mackenzie Financial Corp now owns 5,841 shares of the company’s stock worth $219,000 after acquiring an additional 384 shares during the period. 85.02% of the stock is currently owned by institutional investors and hedge funds.

JFrog Stock Up 0.6 %

Shares of FROG opened at $34.50 on Friday. The business’s fifty day moving average is $31.14 and its 200 day moving average is $30.82. JFrog Ltd. has a 12-month low of $22.91 and a 12-month high of $48.81. The stock has a market cap of $3.51 billion, a P/E ratio of -65.09 and a beta of 0.95.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.24). The business had revenue of $109.06 million for the quarter, compared to analyst estimates of $105.54 million. JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, analysts expect that JFrog Ltd. will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

FROG has been the subject of a number of recent analyst reports. DA Davidson reissued a “buy” rating and set a $40.00 target price on shares of JFrog in a research report on Monday, October 14th. Scotiabank increased their price objective on shares of JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of JFrog in a report on Friday, November 8th. UBS Group increased their price target on JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of JFrog in a research note on Tuesday, October 29th. Three 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.89.

Insider Activity at JFrog

In other news, CFO Eduard Grabscheid sold 834 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $30.60, for a total value of $25,520.40. Following the completion of the sale, the chief financial officer now owns 97,260 shares in the company, valued at $2,976,156. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $31.93, for a total transaction of $567,555.75. Following the transaction, the chief executive officer now directly owns 4,957,454 shares in the company, valued at $158,291,506.22. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,146 shares of company stock valued at $8,544,054. 15.70% of the stock is owned by corporate insiders.

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.