Fmr LLC Trims Stake in JFrog Ltd. (NASDAQ:FROG)

Fmr LLC cut its stake in JFrog Ltd. (NASDAQ:FROG) by 98.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,563 shares of the company’s stock after selling 1,078,073 shares during the quarter. Fmr LLC’s holdings in JFrog were worth $423,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of JFrog by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after acquiring an additional 561,897 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in JFrog by 114.1% in the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of JFrog by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after purchasing an additional 593,478 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of JFrog by 17.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock worth $62,904,000 after purchasing an additional 254,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of JFrog by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock worth $62,636,000 after buying an additional 41,275 shares during the last quarter. 85.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FROG has been the subject of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $40.00 price objective on shares of JFrog in a research note on Monday, October 14th. Needham & Company LLC lifted their price target on JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Barclays cut their price objective on shares of JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Scotiabank lifted their target price on shares of JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Robert W. Baird increased their price target on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three 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’s stock. Based on data from MarketBeat, JFrog has an average rating of “Moderate Buy” and an average target price of $37.72.

JFrog Price Performance

Shares of FROG opened at $30.56 on Friday. The firm has a market capitalization of $3.11 billion, a P/E ratio of -57.66 and a beta of 0.94. JFrog Ltd. has a one year low of $22.91 and a one year high of $48.81. The business has a fifty day moving average of $30.75 and a 200 day moving average of $31.31.

Insiders Place Their Bets

In other JFrog news, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.85, for a total transaction of $462,750.00. Following the completion of the sale, the chief technology officer now directly owns 6,612,242 shares of the company’s stock, valued at approximately $203,987,665.70. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of JFrog 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 transaction, the chief executive officer now owns 4,975,229 shares in the company, valued at $149,256,870. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 256,921 shares of company stock valued at $7,927,309. Insiders own 15.70% of the company’s stock.

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.