Fmr LLC Trims Stake in JFrog Ltd. (NASDAQ:FROG)

FMR LLC cut its stake in JFrog Ltd. (NASDAQ:FROG - Free Report) by 98.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,563 shares of the company's stock after selling 1,078,073 shares during the quarter. FMR LLC's holdings in JFrog were worth $423,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. grew its holdings in JFrog by 30.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company's stock worth $25,963,000 after purchasing an additional 210,000 shares during the last quarter. Principal Financial Group Inc. grew its position in JFrog by 55.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company's stock worth $41,757,000 after purchasing an additional 514,895 shares during the last quarter. Algert Global LLC increased its stake in JFrog by 60.0% during the 2nd quarter. Algert Global LLC now owns 131,900 shares of the company's stock valued at $4,953,000 after purchasing an additional 49,461 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of JFrog by 4.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 513,930 shares of the company's stock worth $19,298,000 after buying an additional 23,528 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 buying an additional 561,897 shares during the period. 85.02% of the stock is owned by institutional investors.

Insider Buying and Selling at JFrog

In related news, CEO Ben Haim Shlomi sold 35,550 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the sale, the chief executive officer now directly owns 4,975,229 shares in the company, valued at approximately $149,256,870. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $30.86, for a total value of $1,080,100.00. Following the completion of the transaction, the director now owns 4,514,432 shares in the company, valued at $139,315,371.52. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,921 shares of company stock valued at $7,927,309 over the last ninety days. Corporate insiders own 15.70% of the company's stock.

JFrog Stock Performance

Shares of NASDAQ:FROG traded up $0.30 during midday trading on Friday, reaching $30.86. 1,666,346 shares of the company's stock traded hands, compared to its average volume of 1,237,286. The company has a fifty day simple moving average of $30.75 and a two-hundred day simple moving average of $31.30. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $48.81. The company has a market cap of $3.14 billion, a P/E ratio of -58.23 and a beta of 0.94.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FROG. Truist Financial restated a "buy" rating and issued a $35.00 target price (up previously from $33.00) on shares of JFrog in a research note on Friday, November 8th. TD Cowen raised their price objective on JFrog from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Robert W. Baird upped their target price on JFrog from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Scotiabank lifted their price objective on shares of JFrog from $25.00 to $30.00 and gave the company a "sector perform" rating in a research note on Friday, November 8th. Finally, Baird R W upgraded shares of JFrog to a "strong-buy" rating in a research note on Tuesday, August 27th. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.72.

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.