JFrog (NASDAQ:FROG) PT Lowered to $30.00 at Truist Financial

JFrog (NASDAQ:FROG) had its price objective reduced by Truist Financial from $50.00 to $30.00 in a research note issued to investors on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on FROG. KeyCorp dropped their price target on JFrog from $52.00 to $46.00 and set an overweight rating on the stock in a research note on Friday, May 10th. Piper Sandler dropped their price target on JFrog from $40.00 to $32.00 and set a neutral rating on the stock in a research note on Thursday. UBS Group assumed coverage on JFrog in a research note on Wednesday, May 22nd. They issued a buy rating and a $41.00 price target on the stock. FBN Securities assumed coverage on JFrog in a research report on Wednesday, May 22nd. They set an outperform rating and a $45.00 target price on the stock. Finally, Morgan Stanley lowered their target price on JFrog from $47.00 to $33.00 and set an overweight rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, JFrog currently has an average rating of Moderate Buy and an average target price of $38.00.

JFrog Stock Up 5.9 %

Shares of JFrog stock traded up $1.46 on Thursday, reaching $26.14. The company’s stock had a trading volume of 3,122,110 shares, compared to its average volume of 1,272,460. The company 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 fifty day simple moving average is $35.00 and its two-hundred day simple moving average is $37.82. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81.

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

Insider Transactions at JFrog

In other news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.70, for a total value of $1,144,500.00. Following the sale, the director now directly owns 4,619,432 shares of the company’s stock, valued at $151,055,426.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other JFrog news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.70, for a total transaction of $1,144,500.00. Following the sale, the director now directly owns 4,619,432 shares of the company’s stock, valued at $151,055,426.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of the business’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 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 $163,154,559.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,107 shares of company stock valued at $9,513,787. 15.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of JFrog by 7.4% in the first quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock valued at $335,141,000 after purchasing an additional 523,432 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of JFrog by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock valued at $115,791,000 after purchasing an additional 561,897 shares during the period. Praesidium Investment Management Company LLC boosted its holdings in shares of JFrog by 6.5% in the fourth quarter. Praesidium Investment Management Company LLC now owns 1,943,381 shares of the company’s stock valued at $67,260,000 after purchasing an additional 118,473 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of JFrog by 4.4% in the first quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock valued at $76,160,000 after purchasing an additional 73,036 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of JFrog by 17.9% in the second quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock valued at $62,904,000 after purchasing an additional 254,100 shares during the period. Hedge funds and other institutional investors 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.