Mackenzie Financial Corp Decreases Stake in JFrog Ltd. (NASDAQ:FROG)

Mackenzie Financial Corp cut its holdings in JFrog Ltd. (NASDAQ:FROG - Free Report) by 30.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,394,238 shares of the company's stock after selling 601,774 shares during the period. Mackenzie Financial Corp owned about 1.22% of JFrog worth $44,616,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FROG. Norges Bank bought a new position in JFrog during the 4th quarter valued at about $32,878,000. Raymond James Financial Inc. bought a new position in JFrog during the 4th quarter valued at about $30,554,000. Champlain Investment Partners LLC grew its holdings in JFrog by 48.4% during 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 last quarter. Bamco Inc. NY bought a new position in JFrog during the 4th quarter valued at about $21,322,000. Finally, Daventry Group LP grew its holdings in JFrog by 103.0% during the 4th quarter. Daventry Group LP now owns 1,403,708 shares of the company's stock valued at $41,283,000 after purchasing an additional 712,373 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FROG. DA Davidson upped their price target on shares of JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a report on Friday, May 9th. Barclays restated an "overweight" rating and issued a $45.00 target price (up from $42.00) on shares of JFrog in a research note on Monday, July 21st. Wall Street Zen upgraded shares of JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Morgan Stanley upped their target price on shares of JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $46.00 target price on shares of JFrog in a research note on Monday, May 5th. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.25.

Insider Activity at JFrog

In related news, CFO Eduard Grabscheid sold 13,043 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $45.00, for a total transaction of $586,935.00. Following the completion of the sale, the chief financial officer owned 159,887 shares of the company's stock, valued at $7,194,915. This represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $41.71, for a total transaction of $1,459,850.00. Following the sale, the director directly owned 4,239,903 shares of the company's stock, valued at $176,846,354.13. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,338 shares of company stock valued at $11,050,150 over the last three months. Company insiders own 14.10% of the company's stock.

JFrog Trading Down 3.4%

Shares of FROG traded down $1.49 during mid-day trading on Friday, hitting $41.92. The company's stock had a trading volume of 865,997 shares, compared to its average volume of 1,036,828. The company's 50-day moving average is $42.21 and its 200-day moving average is $37.48. JFrog Ltd. has a 52-week low of $22.91 and a 52-week high of $45.99. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of -59.04 and a beta of 1.06.

JFrog (NASDAQ:FROG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $122.41 million during the quarter, compared to analysts' expectations of $117.44 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. JFrog's revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, sell-side analysts predict 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.