ARK Investment Management LLC Reduces Position in JFrog Ltd. (NASDAQ:FROG)

ARK Investment Management LLC trimmed its position in JFrog Ltd. (NASDAQ:FROG) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,263 shares of the company’s stock after selling 2,987 shares during the quarter. ARK Investment Management LLC owned 0.05% of JFrog worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 acquiring an additional 523,432 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of JFrog by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after purchasing an additional 561,897 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in 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 purchasing an additional 73,036 shares during the period. Renaissance Technologies LLC raised its position in JFrog by 17.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock valued at $62,904,000 after purchasing an additional 254,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 period. 85.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FROG. Barclays decreased their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Robert W. Baird lifted their target price on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial reaffirmed a “buy” rating and set a $35.00 price objective (up from $33.00) on shares of JFrog in a research report on Friday. Stifel Nicolaus decreased their target price on JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen lifted their price target on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.

JFrog Stock Down 5.4 %

NASDAQ:FROG opened at $31.10 on Friday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -69.11 and a beta of 0.93. The company’s 50 day moving average price is $29.07 and its 200-day moving average price is $32.44. JFrog Ltd. has a 52 week low of $22.91 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business 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 anticipate that JFrog Ltd. will post -0.28 earnings per share for the current year.

Insider Transactions at JFrog

In related news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $462,750.00. Following the sale, the chief technology officer now directly owns 6,612,242 shares of the company’s stock, valued at $203,987,665.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other JFrog news, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.85, for a total transaction of $462,750.00. Following the transaction, the chief technology officer now owns 6,612,242 shares in the company, valued at approximately $203,987,665.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Tali Notman sold 10,699 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.29, for a total transaction of $302,674.71. Following the sale, the executive now directly owns 536,714 shares in the company, valued at approximately $15,183,639.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 126,031 shares of company stock worth $3,618,247 over the last quarter. 15.70% of the stock is currently owned by insiders.

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.