Baillie Gifford & Co. Trims Position in JFrog Ltd. (NASDAQ:FROG)

Key Points

• Baillie Gifford & Co. reduced its stake in JFrog Ltd. by 11.2% in Q1, owning approximately 1,061,158 shares valued at $33,957,000 after selling 133,559 shares.
• Insiders, including CRO Tali Notman and Director Frederic Simon, sold significant shares, totaling 258,338 shares worth over $11 million in the last ninety days.
• Equities analysts have upgraded JFrog's stock ratings, with target prices set between $42.00 and $50.00, reflecting positive market sentiment despite its stock experiencing a slight decline.

Baillie Gifford & Co. lowered its position in shares of JFrog Ltd. (NASDAQ:FROG - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061,158 shares of the company's stock after selling 133,559 shares during the quarter. Baillie Gifford & Co. owned 0.93% of JFrog worth $33,957,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in JFrog by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company's stock worth $259,882,000 after purchasing an additional 349,532 shares during the period. TimesSquare Capital Management LLC boosted its stake in JFrog by 6.5% in the 1st quarter. TimesSquare Capital Management LLC now owns 3,622,911 shares of the company's stock worth $115,933,000 after purchasing an additional 222,635 shares during the period. Champlain Investment Partners LLC boosted its stake in JFrog by 48.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company's stock worth $71,961,000 after purchasing an additional 797,949 shares during the period. Wasatch Advisors LP boosted its stake in JFrog by 3.3% in the 4th quarter. Wasatch Advisors LP now owns 2,211,088 shares of the company's stock worth $65,028,000 after purchasing an additional 70,204 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in JFrog by 93.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company's stock worth $58,703,000 after purchasing an additional 965,912 shares during the period. Hedge funds and other institutional investors own 85.02% of the company's stock.

Insider Buying and Selling

In other JFrog news, Director Frederic Simon sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $41.71, for a total value of $1,459,850.00. Following the sale, the director owned 4,239,903 shares in the company, valued at approximately $176,846,354.13. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 54,279 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $43.07, for a total value of $2,337,796.53. Following the completion of the sale, the chief executive officer owned 4,996,412 shares in the company, valued at approximately $215,195,464.84. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,338 shares of company stock worth $11,050,150 in the last quarter. 14.10% of the stock is currently owned by corporate insiders.

JFrog Price Performance

JFrog stock traded up $0.94 during trading hours on Wednesday, reaching $44.30. The stock had a trading volume of 241,262 shares, compared to its average volume of 1,026,571. JFrog Ltd. has a 52 week low of $22.91 and a 52 week high of $45.10. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -62.27 and a beta of 1.06. The business's 50 day moving average price is $42.15 and its 200-day moving average price is $37.35.

JFrog (NASDAQ:FROG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. JFrog had a negative net margin of 17.52% and a negative return on equity of 7.24%. The company had revenue of $122.41 million for the quarter, compared to the consensus estimate of $117.44 million. During the same quarter in the prior year, the company earned $0.16 EPS. JFrog's quarterly revenue was up 22.0% on a year-over-year basis. On average, sell-side analysts forecast that JFrog Ltd. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FROG. DA Davidson upped their price target on JFrog from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Raymond James Financial set a $50.00 target price on JFrog and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald reiterated an "overweight" rating and set a $46.00 target price on shares of JFrog in a research report on Monday, May 5th. Finally, Morgan Stanley lifted their price objective on shares of JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.25.

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.