Procyon Advisors LLC Buys 8,200 Shares of JFrog Ltd. (NASDAQ:FROG)

Procyon Advisors LLC boosted its stake in shares of JFrog Ltd. (NASDAQ:FROG) by 116.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,256 shares of the company’s stock after buying an additional 8,200 shares during the quarter. Procyon Advisors LLC’s holdings in JFrog were worth $443,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. lifted its holdings in JFrog by 285.1% during 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. lifted its holdings in JFrog by 4,244.7% during the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after purchasing an additional 856,451 shares during the last quarter. American Century Companies Inc. lifted its holdings in JFrog by 172.5% during the second quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock valued at $49,943,000 after purchasing an additional 841,956 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in JFrog during the first quarter valued at about $35,520,000. Finally, Ensign Peak Advisors Inc purchased a new stake in JFrog during the second quarter valued at about $30,098,000. Institutional investors own 85.02% of the company’s stock.

JFrog Price Performance

Shares of FROG opened at $31.60 on Wednesday. The firm’s 50 day simple moving average is $27.99 and its 200 day simple moving average is $33.57. The company has a market capitalization of $3.22 billion, a P/E ratio of -67.23 and a beta of 0.94. JFrog Ltd. has a 1-year low of $21.38 and a 1-year high of $48.81.

JFrog (NASDAQ:FROG) last announced its 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 analysts’ expectations of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. On average, equities analysts anticipate that JFrog Ltd. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the transaction, the director now directly owns 4,549,432 shares in the company, valued at $176,290,490. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other JFrog news, CRO Tali Notman sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.68, for a total transaction of $1,100,400.00. Following the transaction, the executive now directly owns 559,034 shares in the company, valued at $20,505,367.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the transaction, the director now owns 4,549,432 shares in the company, valued at $176,290,490. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,031 shares of company stock worth $6,460,097 over the last ninety days. Insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. UBS Group dropped their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of JFrog in a report on Wednesday, September 11th. KeyCorp increased their price target on shares of JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of JFrog in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.28.

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.