1832 Asset Management L.P. Sells 826,000 Shares of JFrog Ltd. (NASDAQ:FROG)

1832 Asset Management L.P. cut its holdings in JFrog Ltd. (NASDAQ:FROG) by 58.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 596,100 shares of the company’s stock after selling 826,000 shares during the period. 1832 Asset Management L.P. owned approximately 0.59% of JFrog worth $22,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in JFrog in the first quarter worth approximately $44,000. Advisors Asset Management Inc. grew its position in shares of JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after buying an additional 662 shares during the period. RiverPark Advisors LLC bought a new stake in shares of JFrog in the 1st quarter valued at $140,000. SG Americas Securities LLC acquired a new position in shares of JFrog during the 2nd quarter valued at $187,000. Finally, Duality Advisers LP bought a new position in JFrog during the first quarter worth $205,000. 85.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FROG has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays decreased their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Robert W. Baird began coverage on JFrog in a report on Tuesday, August 27th. They issued an “outperform” rating and a $32.00 price target on the stock. Bank of America decreased their price objective on JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen cut their target price on JFrog from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.28.

Insider Transactions at JFrog

In related news, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the transaction, the chief executive officer now owns 5,027,493 shares in the company, valued at $136,043,960.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total value of $1,356,250.00. Following the completion of the transaction, the director now owns 4,549,432 shares in the company, valued at $176,290,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total transaction of $557,598.36. Following the sale, the chief executive officer now owns 5,027,493 shares in the company, valued at $136,043,960.58. The disclosure for this sale can be found here. Insiders sold a total of 217,640 shares of company stock worth $7,224,795 in the last quarter. Insiders own 15.70% of the company’s stock.

JFrog Trading Down 0.8 %

Shares of JFrog stock opened at $28.39 on Tuesday. The firm has a market capitalization of $2.89 billion, a P/E ratio of -60.40 and a beta of 0.93. The business’s fifty day simple moving average is $30.81 and its 200 day simple moving average is $35.29. JFrog Ltd. has a 12 month low of $21.38 and a 12 month high of $48.81.

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