JFrog (NASDAQ:FROG) PT Lowered to $30.00 at Stifel Nicolaus

JFrog (NASDAQ:FROG) had its price target trimmed by Stifel Nicolaus from $45.00 to $30.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

FROG has been the subject of a number of other reports. Needham & Company LLC reaffirmed a buy rating and issued a $45.00 price target on shares of JFrog in a research note on Tuesday, June 25th. Piper Sandler lowered their price target on JFrog from $40.00 to $32.00 and set a neutral rating for the company in a research note on Thursday. FBN Securities assumed coverage on JFrog in a research note on Wednesday, May 22nd. They issued an outperform rating and a $45.00 price target for the company. Morgan Stanley lowered their price target on JFrog from $47.00 to $33.00 and set an overweight rating for the company in a research note on Thursday. Finally, Oppenheimer cut JFrog from an outperform rating to a market perform rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, JFrog currently has a consensus rating of Moderate Buy and an average price target of $38.00.

JFrog Stock Performance

JFrog stock traded up $1.46 during trading hours on Thursday, reaching $26.14. 3,122,110 shares of the company’s stock traded hands, compared to its average volume of 1,272,460. JFrog has a fifty-two week low of $21.38 and a fifty-two week high of $48.81. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -55.62 and a beta of 0.96. The firm’s 50 day moving average is $35.00 and its 200-day moving average is $37.82.

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

Insiders Place Their Bets

In other JFrog news, CRO Tali Notman sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $36.68, for a total transaction of $1,100,400.00. Following the completion of the transaction, the executive now owns 559,034 shares of the company’s stock, valued at approximately $20,505,367.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CRO Tali Notman sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $36.68, for a total value of $1,100,400.00. Following the completion of the sale, the executive now owns 559,034 shares of the company’s stock, valued at approximately $20,505,367.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total value of $1,144,500.00. Following the completion of the sale, the director now directly owns 4,619,432 shares of the company’s stock, valued at approximately $151,055,426.40. The disclosure for this sale can be found here. Insiders sold a total of 272,107 shares of company stock valued at $9,513,787 in the last quarter. 15.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JFrog

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of JFrog by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock valued at $335,141,000 after buying an additional 523,432 shares during the last quarter. Bank of New York Mellon Corp boosted its position in JFrog by 22.3% during the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after purchasing an additional 561,897 shares during the period. Praesidium Investment Management Company LLC boosted its position in JFrog by 6.5% during the fourth quarter. Praesidium Investment Management Company LLC now owns 1,943,381 shares of the company’s stock worth $67,260,000 after purchasing an additional 118,473 shares during the period. Lord Abbett & CO. LLC boosted its position in JFrog by 4.4% during the first quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock worth $76,160,000 after purchasing an additional 73,036 shares during the period. Finally, Renaissance Technologies LLC boosted its position in JFrog by 17.9% during the second 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. Institutional investors and hedge funds own 85.02% of the company’s stock.

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.