Canada Pension Plan Investment Board Purchases 96,241 Shares of JFrog Ltd. $FROG

Key Points

• The Canada Pension Plan Investment Board increased its holdings in JFrog Ltd. by 95.6%, acquiring a total of 196,954 shares valued at approximately $6.3 million.
• Several other institutional investors, including Signaturefd LLC and PNC Financial Services Group, also significantly increased their stakes in JFrog during the first quarter of 2023.
• JFrog reported a quarterly earnings per share of $0.18, exceeding analyst expectations, and it has set optimistic guidance for future earnings.

Canada Pension Plan Investment Board increased its holdings in JFrog Ltd. (NASDAQ:FROG - Free Report) by 95.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 196,954 shares of the company's stock after purchasing an additional 96,241 shares during the period. Canada Pension Plan Investment Board owned approximately 0.17% of JFrog worth $6,303,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in JFrog by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,871,984 shares of the company's stock worth $283,903,000 after purchasing an additional 35,458 shares during the last quarter. TimesSquare Capital Management LLC increased its position in JFrog by 6.5% in the first 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 last quarter. T. Rowe Price Investment Management Inc. increased its position in JFrog by 65.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,630,179 shares of the company's stock worth $84,166,000 after purchasing an additional 1,037,482 shares during the last quarter. Mackenzie Financial Corp increased its position in JFrog by 93.8% in the fourth 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 last quarter. Finally, Fiera Capital Corp increased its position in JFrog by 12.2% in the first quarter. Fiera Capital Corp now owns 1,694,635 shares of the company's stock worth $54,228,000 after purchasing an additional 184,448 shares during the last quarter. Institutional investors own 85.02% of the company's stock.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 29,101 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.78, for a total value of $1,390,445.78. Following the completion of the sale, the chief executive officer directly owned 4,937,311 shares of the company's stock, valued at $235,904,719.58. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eduard Grabscheid sold 4,908 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $47.29, for a total transaction of $232,099.32. Following the completion of the sale, the chief financial officer directly owned 136,165 shares of the company's stock, valued at approximately $6,439,242.85. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 442,522 shares of company stock valued at $20,456,252 over the last quarter. 14.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James Financial boosted their price target on shares of JFrog from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Barclays boosted their price objective on shares of JFrog from $45.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. KeyCorp boosted their price objective on shares of JFrog from $46.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of JFrog in a research report on Friday, August 8th. Finally, Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up previously from $40.00) on shares of JFrog in a research report on Friday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.87.

JFrog Trading Up 3.4%

Shares of FROG traded up $1.66 during trading hours on Friday, reaching $50.06. 1,046,803 shares of the company traded hands, compared to its average volume of 1,641,230. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -65.01 and a beta of 1.07. JFrog Ltd. has a 12-month low of $27.00 and a 12-month high of $50.57. The stock's fifty day moving average price is $43.70 and its 200 day moving average price is $39.23.

JFrog (NASDAQ:FROG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. JFrog had a negative net margin of 18.18% and a negative return on equity of 7.54%. The firm had revenue of $127.20 million during the quarter, compared to analyst estimates of $122.80 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business's revenue was up 23.5% on a year-over-year basis. JFrog has set its FY 2025 guidance at 0.680-0.70 EPS. Q3 2025 guidance at 0.150-0.17 EPS. On average, research analysts forecast that JFrog Ltd. will post -0.33 earnings per share for the current year.

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.