Clal Insurance Enterprises Holdings Ltd Trims Position in JFrog Ltd. (NASDAQ:FROG)

Key Points

• Clal Insurance Enterprises Holdings Ltd has reduced its stake in JFrog Ltd. by 9.7%, owning 926,812 shares worth approximately $29.66 million as of the latest SEC filing.
• JFrog's recent earnings report showed an EPS of $0.18, exceeding estimates, with a revenue growth of 23.5% compared to the previous year.
• Institutional investors own 85.02% of JFrog's stock, reflecting strong interest from hedge funds and other investment firms.

Clal Insurance Enterprises Holdings Ltd trimmed its position in JFrog Ltd. (NASDAQ:FROG - Free Report) by 9.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 926,812 shares of the company's stock after selling 100,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned about 0.81% of JFrog worth $29,658,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in JFrog by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,344 shares of the company's stock valued at $43,000 after acquiring an additional 329 shares during the last quarter. California State Teachers Retirement System boosted its stake in JFrog by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 80,898 shares of the company's stock valued at $2,379,000 after acquiring an additional 439 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of JFrog by 10.2% during the 1st quarter. IFP Advisors Inc now owns 5,923 shares of the company's stock valued at $190,000 after buying an additional 548 shares in the last quarter. Snowden Capital Advisors LLC lifted its stake in shares of JFrog by 4.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 13,900 shares of the company's stock valued at $409,000 after buying an additional 564 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of JFrog by 90.9% during the 1st quarter. Signaturefd LLC now owns 1,254 shares of the company's stock valued at $40,000 after buying an additional 597 shares in the last quarter. 85.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FROG has been the topic of a number of recent research reports. Piper Sandler restated a "neutral" rating and set a $48.00 price target (up from $40.00) on shares of JFrog in a research note on Friday, August 8th. Scotiabank dropped their price target on shares of JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 target price (up from $46.00) on shares of JFrog in a research note on Friday, August 8th. KeyCorp increased their target price on shares of JFrog from $46.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, DA Davidson increased their target price on shares of JFrog from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two equities research 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, JFrog presently has an average rating of "Moderate Buy" and a consensus price target of $46.87.

JFrog Stock Up 1.9%

Shares of NASDAQ FROG traded up $0.79 during trading hours on Thursday, reaching $42.73. 1,076,381 shares of the stock traded hands, compared to its average volume of 1,094,934. The company has a market capitalization of $4.99 billion, a P/E ratio of -55.49 and a beta of 1.06. The company's 50-day simple moving average is $42.01 and its two-hundred day simple moving average is $38.01. JFrog Ltd. has a 52-week low of $25.93 and a 52-week high of $46.64.

JFrog (NASDAQ:FROG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.18 EPS for the quarter, beating the consensus estimate 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 company had revenue of $127.20 million for the quarter, compared to analyst estimates of $122.80 million. During the same quarter last year, the firm earned $0.15 EPS. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. As a group, sell-side analysts forecast that JFrog Ltd. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at JFrog

In related news, CTO Yoav Landman sold 50,000 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $43.26, for a total transaction of $2,163,000.00. Following the transaction, the chief technology officer owned 6,371,086 shares of the company's stock, valued at approximately $275,613,180.36. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Tali Notman sold 23,157 shares of the 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 transaction, the executive directly owned 686,360 shares in the company, valued at approximately $29,623,297.60. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 308,338 shares of company stock worth $13,154,150 in the last 90 days. Corporate insiders own 14.10% of the company's stock.

About JFrog

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.