JFrog Ltd. (NASDAQ:FROG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of JFrog Ltd. (NASDAQ:FROG - Free Report) by 46.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,464,559 shares of the company's stock after selling 1,271,862 shares during the period. Bank of New York Mellon Corp owned 1.28% of JFrog worth $46,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in JFrog during the fourth quarter worth approximately $32,878,000. Raymond James Financial Inc. purchased a new position in shares of JFrog during the fourth quarter worth $30,554,000. Mackenzie Financial Corp boosted its position in JFrog by 93.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company's stock valued at $58,703,000 after buying an additional 965,912 shares during the period. Champlain Investment Partners LLC lifted its stake in JFrog by 48.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company's stock worth $71,961,000 after acquiring an additional 797,949 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in JFrog in the fourth quarter valued at approximately $21,322,000. Hedge funds and other institutional investors own 85.02% of the company's stock.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 8,734 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $42.39, for a total value of $370,234.26. Following the completion of the transaction, the chief technology officer owned 6,321,086 shares in the company, valued at approximately $267,950,835.54. This represents a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Tali Notman sold 23,157 shares of JFrog stock in a transaction on Friday, June 6th. The shares were sold at an average price of $43.16, for a total transaction of $999,456.12. Following the completion of the transaction, the executive directly owned 686,360 shares in the company, valued at $29,623,297.60. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,338 shares of company stock valued at $11,050,150 over the last quarter. Insiders own 14.10% of the company's stock.

JFrog Stock Performance

Shares of JFrog stock traded up $0.30 on Tuesday, hitting $40.24. The company's stock had a trading volume of 762,597 shares, compared to its average volume of 1,124,800. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of -56.68 and a beta of 1.06. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $45.10. The firm has a fifty day moving average price of $41.78 and a 200-day moving average price of $36.54.

JFrog (NASDAQ:FROG - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $122.41 million during the quarter, compared to analyst estimates of $117.44 million. JFrog had a negative return on equity of 7.24% and a negative net margin of 17.52%. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, analysts forecast that JFrog Ltd. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on FROG shares. DA Davidson boosted their target price on JFrog from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Scotiabank decreased their price target on JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Barclays decreased their price target on shares of JFrog from $48.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Morgan Stanley boosted 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. Finally, Wall Street Zen raised shares of JFrog from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, JFrog presently has a consensus rating of "Moderate Buy" and an average target price of $42.06.

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.