Newbridge Financial Services Group Inc. Sells 1,100 Shares of JFrog Ltd. (NASDAQ:FROG)

Newbridge Financial Services Group Inc. cut its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 37.4% during the second quarter, HoldingsChannel.com reports. The firm owned 1,840 shares of the company’s stock after selling 1,100 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in JFrog were worth $69,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. increased its holdings in JFrog by 285.1% in the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock valued at $62,885,000 after purchasing an additional 1,052,800 shares during the last quarter. Meitav Investment House Ltd. increased its stake in shares of JFrog by 4,244.7% in the 2nd quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after acquiring an additional 856,451 shares during the last quarter. American Century Companies Inc. increased its stake in shares of JFrog by 172.5% in the 2nd quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock valued at $49,943,000 after acquiring an additional 841,956 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of JFrog in the 1st quarter valued at approximately $35,520,000. Finally, Ensign Peak Advisors Inc bought a new position in JFrog during the 2nd quarter worth approximately $30,098,000. Institutional investors own 85.02% of the company’s stock.

JFrog Price Performance

JFrog stock opened at $27.54 on Friday. The firm has a 50-day moving average of $29.15 and a 200-day moving average of $34.52. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -58.60 and a beta of 0.94. JFrog Ltd. has a one year low of $21.38 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. As a group, sell-side analysts expect that JFrog Ltd. will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group cut their target price on shares of JFrog from $41.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial decreased their target price on JFrog from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Morgan Stanley dropped their price target on JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Bank of America decreased their price objective on JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Scotiabank dropped their target price on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.28.

Insider Buying and Selling

In other JFrog news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $25.68, for a total value of $385,200.00. Following the completion of the sale, the chief technology officer now owns 6,642,242 shares in the company, valued at $170,572,774.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the transaction, the director now owns 4,549,432 shares in the company, valued at $176,290,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $25.68, for a total value of $385,200.00. Following the completion of the sale, the chief technology officer now owns 6,642,242 shares in the company, valued at approximately $170,572,774.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,481 shares of company stock worth $6,407,447. Insiders own 15.70% 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.