JFrog (NASDAQ:FROG) Trading Down 8.1% - Here's Why

JFrog Ltd. (NASDAQ:FROG - Get Free Report)'s stock price was down 8.1% on Friday . The stock traded as low as $30.09 and last traded at $30.20. Approximately 661,178 shares were traded during trading, a decline of 48% from the average daily volume of 1,268,094 shares. The stock had previously closed at $32.86.

Analyst Upgrades and Downgrades

FROG has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price target on JFrog from $48.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Piper Sandler dropped their target price on shares of JFrog from $40.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. TD Cowen boosted 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. Bank of America dropped their price objective on shares of JFrog from $54.00 to $44.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of JFrog from $47.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.83.

JFrog Stock Performance

The firm's fifty day moving average is $29.07 and its two-hundred day moving average is $32.44. The company has a market cap of $3.17 billion, a P/E ratio of -67.80 and a beta of 0.93.

JFrog (NASDAQ:FROG - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The business had revenue of $103.04 million for the quarter, compared to analysts' expectations of $103.53 million. On average, equities research analysts expect that JFrog Ltd. will post -0.28 EPS for the current year.

Insider Activity at JFrog

In related news, CRO Tali Notman sold 10,699 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.29, for a total transaction of $302,674.71. Following the transaction, the executive now owns 536,714 shares of the company's stock, valued at approximately $15,183,639.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JFrog news, CTO Yoav Landman sold 15,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the transaction, the chief technology officer now owns 6,627,242 shares in the company, valued at $185,562,776. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Tali Notman sold 10,699 shares of JFrog stock in a transaction on Monday, September 9th. The stock was 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 of the company's stock, valued at approximately $15,183,639.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,031 shares of company stock valued at $3,618,247. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp raised its position in JFrog by 7.0% in the 2nd quarter. Mackenzie Financial Corp now owns 5,841 shares of the company's stock valued at $219,000 after purchasing an additional 384 shares during the last quarter. George Kaiser Family Foundation raised its stake in JFrog by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 75,037 shares of the company's stock valued at $2,818,000 after purchasing an additional 532 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of JFrog by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 37,229 shares of the company's stock worth $1,093,000 after purchasing an additional 577 shares during the period. Advisors Asset Management Inc. increased its position in JFrog by 33.9% during the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company's stock worth $116,000 after purchasing an additional 662 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of JFrog by 13.6% in the 3rd quarter. US Bancorp DE now owns 6,687 shares of the company's stock worth $194,000 after purchasing an additional 798 shares during the period. Hedge funds and other institutional investors own 85.02% of the company's stock.

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.

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