William Blair Investment Management LLC Has $27.16 Million Holdings in JFrog Ltd. (NASDAQ:FROG)

William Blair Investment Management LLC reduced its position in JFrog Ltd. (NASDAQ:FROG) by 44.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 723,405 shares of the company’s stock after selling 571,219 shares during the period. William Blair Investment Management LLC owned about 0.71% of JFrog worth $27,164,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in JFrog by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after purchasing an additional 523,432 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of JFrog by 22.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock valued at $115,791,000 after acquiring an additional 561,897 shares during the last quarter. Praesidium Investment Management Company LLC increased its holdings in shares of JFrog by 6.5% during the 4th quarter. Praesidium Investment Management Company LLC now owns 1,943,381 shares of the company’s stock valued at $67,260,000 after acquiring an additional 118,473 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of JFrog by 4.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock valued at $76,160,000 after acquiring an additional 73,036 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of JFrog by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,592,736 shares of the company’s stock valued at $59,807,000 after acquiring an additional 18,865 shares during the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Price Performance

JFrog stock opened at $27.99 on Monday. The business has a 50 day simple moving average of $31.57 and a 200 day simple moving average of $35.83. The company has a market capitalization of $2.85 billion, a PE ratio of -59.55 and a beta of 0.93. JFrog Ltd. has a one year low of $21.38 and a one year high of $48.81.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FROG. FBN Securities began coverage on JFrog in a report on Wednesday, May 22nd. They set an “outperform” rating and a $45.00 price objective on the stock. Morgan Stanley lowered their price objective on JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Scotiabank lowered their price objective on JFrog from $40.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. UBS Group lowered their target price on JFrog from $41.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America lowered their target price on JFrog from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.28.

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 20,606 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the sale, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at approximately $136,043,960.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other JFrog news, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.68, for a total value of $385,200.00. Following the transaction, the chief technology officer now owns 6,642,242 shares of the company’s stock, valued at $170,572,774.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 20,606 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now directly owns 5,027,493 shares in the company, valued at approximately $136,043,960.58. The disclosure for this sale can be found here. Insiders have sold a total of 203,040 shares of company stock valued at $6,818,795 in the last 90 days. 15.70% of the stock is owned by corporate insiders.

JFrog Company 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.