17,025 Shares in JFrog Ltd. (NASDAQ:FROG) Acquired by Legato Capital Management LLC

Key Points

• Legato Capital Management LLC invested approximately $545,000 in JFrog Ltd. by purchasing 17,025 shares during the first quarter.
• JFrog's quarterly earnings exceeded analysts' expectations, reporting $0.20 earnings per share and a revenue of $122.41 million, reflecting a 22% year-over-year increase.
• Several analysts upgraded JFrog's stock rating, with DA Davidson raising their price target from $40.00 to $45.00 and Raymond James setting a target of $50.00.

Legato Capital Management LLC acquired a new stake in JFrog Ltd. (NASDAQ:FROG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 17,025 shares of the company's stock, valued at approximately $545,000.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in shares of JFrog in the fourth quarter worth $675,000. Sei Investments Co. increased its stake in shares of JFrog by 9.2% in the fourth quarter. Sei Investments Co. now owns 60,485 shares of the company's stock worth $1,779,000 after acquiring an additional 5,105 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in JFrog in the 4th quarter worth about $571,000. LPL Financial LLC increased its position in JFrog by 19.8% in the 4th quarter. LPL Financial LLC now owns 22,002 shares of the company's stock worth $647,000 after purchasing an additional 3,633 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in JFrog by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company's stock worth $259,882,000 after purchasing an additional 349,532 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company's stock.

JFrog Stock Performance

FROG traded down $0.30 during trading on Tuesday, reaching $42.35. 203,759 shares of the stock were exchanged, compared to its average volume of 1,026,127. The stock has a market cap of $4.85 billion, a P/E ratio of -59.63 and a beta of 1.06. JFrog Ltd. has a twelve month low of $22.91 and a twelve month high of $45.10. The stock's 50 day moving average price is $42.15 and its two-hundred day moving average price is $37.31.

JFrog (NASDAQ:FROG - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $117.44 million. JFrog had a negative net margin of 17.52% and a negative return on equity of 7.24%. JFrog's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. Equities research analysts predict that JFrog Ltd. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on FROG. Morgan Stanley upped their target price on JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Cantor Fitzgerald restated an "overweight" rating and set a $46.00 price target on shares of JFrog in a research note on Monday, May 5th. Raymond James Financial set a $50.00 price target on shares of JFrog and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. DA Davidson increased their price target 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. Finally, Scotiabank lowered their target price on shares of JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.25.

Insider Activity

In other news, CRO Tali Notman sold 23,157 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $43.16, for a total value of $999,456.12. Following the transaction, the executive owned 686,360 shares of the company's stock, valued at approximately $29,623,297.60. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederic Simon sold 35,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $41.71, for a total value of $1,459,850.00. Following the completion of the transaction, the director directly owned 4,239,903 shares in the company, valued at approximately $176,846,354.13. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,338 shares of company stock valued at $11,050,150. 14.10% of the stock is owned by insiders.

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.