Barclays Cuts JFrog (NASDAQ:FROG) Price Target to $38.00

JFrog (NASDAQ:FROG - Free Report) had its target price cut by Barclays from $40.00 to $38.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on FROG. Cantor Fitzgerald reissued an "overweight" rating and issued a $35.00 price target on shares of JFrog in a research note on Tuesday, October 29th. KeyCorp increased their price target on JFrog from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, September 12th. Morgan Stanley reduced their price objective on shares of JFrog from $47.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Bank of America dropped their target price on shares of JFrog from $54.00 to $44.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, DA Davidson restated a "buy" rating and set a $40.00 price target on shares of JFrog in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.72.

JFrog Stock Performance

Shares of NASDAQ:FROG traded down $0.19 during mid-day trading on Monday, hitting $30.91. The stock had a trading volume of 1,205,220 shares, compared to its average volume of 1,275,750. The company's 50 day moving average is $29.14 and its 200-day moving average is $32.30. The company has a market cap of $3.15 billion, a PE ratio of -57.98 and a beta of 0.93. JFrog has a 12-month low of $22.91 and a 12-month high of $48.81.

Insider Buying and Selling

In other news, CRO Tali Notman sold 10,699 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.29, for a total value of $302,674.71. Following the completion of the transaction, the executive now owns 536,714 shares of the company's stock, valued at $15,183,639.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Tali Notman sold 10,699 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.29, for a total transaction of $302,674.71. Following the sale, the executive now directly owns 536,714 shares in the company, valued at $15,183,639.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 35,550 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 4,975,229 shares of the company's stock, valued at approximately $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,031 shares of company stock valued at $3,618,247 over the last three months. Company insiders own 15.70% of the company's stock.

Hedge Funds Weigh In On JFrog

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new stake in JFrog during the 2nd quarter worth about $6,576,000. Russell Investments Group Ltd. increased its position in shares of JFrog by 394.2% during the 1st quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company's stock worth $1,268,000 after purchasing an additional 22,864 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of JFrog during the 1st quarter worth approximately $5,337,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of JFrog by 30.7% during the 3rd 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 in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of JFrog by 86.8% in the 1st quarter. Quadrature Capital Ltd now owns 119,025 shares of the company's stock valued at $5,263,000 after buying an additional 55,296 shares during the last quarter. 85.02% of the stock is owned by institutional investors.

About JFrog

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.