JFrog Ltd. (NASDAQ:FROG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in JFrog Ltd. (NASDAQ:FROG - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,389,553 shares of the company's stock after selling 80,945 shares during the period. Principal Financial Group Inc. owned 1.21% of JFrog worth $44,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp increased its position in JFrog by 91.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,204 shares of the company's stock worth $35,000 after purchasing an additional 574 shares during the last quarter. Tower Research Capital LLC TRC increased its position in JFrog by 33,106.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,313 shares of the company's stock worth $156,000 after purchasing an additional 5,297 shares during the last quarter. US Bancorp DE increased its position in JFrog by 7.7% during the fourth quarter. US Bancorp DE now owns 7,199 shares of the company's stock worth $212,000 after purchasing an additional 512 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in JFrog during the fourth quarter worth about $212,000. Finally, IVC Wealth Advisors LLC acquired a new stake in JFrog during the first quarter worth about $220,000. 85.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FROG. Raymond James Financial set a $50.00 price objective on shares of JFrog and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald restated an "overweight" rating and set a $46.00 price objective on shares of JFrog in a research report on Monday, May 5th. Wall Street Zen upgraded shares of JFrog from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Scotiabank lowered their target price on shares of JFrog from $40.00 to $36.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. 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. 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.06.

Insiders Place Their Bets

In related news, CTO Yoav Landman sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $43.26, for a total value of $2,163,000.00. Following the sale, the chief technology officer owned 6,371,086 shares of the company's stock, valued at $275,613,180.36. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Tali Notman sold 23,157 shares of the firm's stock in a transaction that occurred 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 sale, the executive directly owned 686,360 shares in the company, valued at approximately $29,623,297.60. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,113 shares of company stock valued at $8,568,964. 14.10% of the stock is owned by company insiders.

JFrog Stock Performance

NASDAQ FROG opened at $42.00 on Monday. The firm has a 50 day simple moving average of $40.93 and a 200-day simple moving average of $36.09. JFrog Ltd. has a one year low of $22.91 and a one year high of $45.10. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -59.15 and a beta of 1.06.

JFrog (NASDAQ:FROG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.20 EPS for the quarter, beating 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 business had revenue of $122.41 million during the quarter, compared to analyst estimates of $117.44 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Equities analysts predict that JFrog Ltd. will post -0.33 EPS for the current fiscal 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.

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