JFrog Ltd. (NASDAQ:FROG) Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC decreased its stake in shares of JFrog Ltd. (NASDAQ:FROG - Free Report) by 35.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,542 shares of the company's stock after selling 32,902 shares during the quarter. VELA Investment Management LLC owned approximately 0.05% of JFrog worth $1,905,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of JFrog in the 4th quarter valued at about $32,878,000. Raymond James Financial Inc. acquired a new stake in shares of JFrog in the 4th quarter valued at about $30,554,000. Mackenzie Financial Corp boosted its position in shares of 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 purchasing an additional 965,912 shares during the period. Champlain Investment Partners LLC boosted its position in shares of JFrog by 48.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company's stock valued at $71,961,000 after purchasing an additional 797,949 shares during the period. Finally, Bamco Inc. NY acquired a new stake in shares of JFrog in the 4th quarter valued at about $21,322,000. Hedge funds and other institutional investors own 85.02% of the company's stock.

Insider Transactions at JFrog

In related news, Director Frederic Simon sold 20,000 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $28.66, for a total value of $573,200.00. Following the completion of the transaction, the director directly owned 4,354,432 shares in the company, valued at approximately $124,798,021.12. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eduard Grabscheid sold 13,043 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $45.00, for a total value of $586,935.00. Following the completion of the transaction, the chief financial officer owned 159,887 shares of the company's stock, valued at $7,194,915. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,113 shares of company stock valued at $8,568,964. Corporate insiders own 14.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FROG shares. Raymond James Financial set a $50.00 target price on JFrog and gave the company an "outperform" rating in a research report on Tuesday. Morgan Stanley increased their price objective on JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Scotiabank dropped their target price on JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Finally, Barclays lowered their price objective on shares of JFrog from $48.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Three investment 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. Based on data from MarketBeat.com, JFrog presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.06.

JFrog Stock Performance

NASDAQ:FROG traded up $0.65 during mid-day trading on Friday, hitting $42.00. 1,056,669 shares of the company's stock traded hands, compared to its average volume of 1,122,205. The firm's 50 day simple moving average is $40.93 and its 200 day simple moving average is $36.02. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $45.10. The company has a market cap of $4.81 billion, a PE ratio of -59.15 and a beta of 1.06.

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

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.