JFrog Ltd. $FROG Stock Holdings Lowered by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 21.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,772 shares of the company’s stock after selling 5,635 shares during the period. Penn Capital Management Company LLC’s holdings in JFrog were worth $2,039,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP increased its stake in shares of JFrog by 85,066.4% in the 1st quarter. First Trust Advisors LP now owns 3,362,370 shares of the company’s stock worth $157,796,000 after acquiring an additional 3,358,422 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in JFrog by 78.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,964,925 shares of the company’s stock valued at $92,214,000 after acquiring an additional 861,835 shares during the period. Bank of America Corp DE boosted its stake in JFrog by 48.2% during the first quarter. Bank of America Corp DE now owns 2,517,899 shares of the company’s stock worth $118,165,000 after acquiring an additional 819,326 shares in the last quarter. Wellington Management Group LLP bought a new stake in JFrog during the second quarter worth about $69,951,000. Finally, Lazard Asset Management LLC boosted its stake in JFrog by 41.9% during the first quarter. Lazard Asset Management LLC now owns 1,716,050 shares of the company’s stock worth $80,534,000 after acquiring an additional 506,366 shares in the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.

JFrog Price Performance

FROG opened at $108.18 on Tuesday. The firm has a market cap of $13.34 billion, a PE ratio of -601.00 and a beta of 1.31. The stock has a 50-day moving average price of $93.61 and a 200-day moving average price of $72.85. JFrog Ltd. has a 1 year low of $34.05 and a 1 year high of $108.59.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. The company had revenue of $179.17 million for the quarter, compared to the consensus estimate of $165.92 million. JFrog had a negative net margin of 7.35% and a negative return on equity of 2.71%. JFrog’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. As a group, sell-side analysts anticipate that JFrog Ltd. will post -0.11 EPS for the current year.

Insider Activity

In other news, CEO Shlomi Ben Haim sold 45,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $85.35, for a total value of $3,900,495.00. Following the transaction, the chief executive officer owned 4,449,305 shares in the company, valued at approximately $379,748,181.75. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Yoav Landman sold 249,300 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $100.72, for a total transaction of $25,109,496.00. Following the sale, the chief technology officer owned 5,199,038 shares in the company, valued at approximately $523,647,107.36. The trade was a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 900,453 shares of company stock worth $85,299,266. Corporate insiders own 11.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FROG shares. Morgan Stanley set a $100.00 price objective on shares of JFrog in a report on Friday, August 7th. KeyCorp lifted their target price on shares of JFrog from $114.00 to $118.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial boosted their price target on JFrog from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson restated a “buy” rating and issued a $115.00 price target on shares of JFrog in a research note on Friday, September 4th. Finally, Guggenheim upped their price target on JFrog from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday. Twenty-one investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.43.

JFrog Profile

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.