Malaga Cove Capital LLC Takes Position in JFrog Ltd. (NASDAQ:FROG)

Key Points

• Malaga Cove Capital LLC has acquired a new position in JFrog Ltd., purchasing 12,894 shares valued at approximately $413,000 in the first quarter of the year.
• Analysts provide a consensus rating of "Moderate Buy" for JFrog, with an average target price of $42.25, following varied recent price target adjustments from multiple firms.
• Insider selling activity includes CRO Tali Notman and CEO Ben Haim Shlomi, with their sales totalling over $3.3 million, reflecting a minor decrease in their ownership stakes.

Malaga Cove Capital LLC bought a new stake in shares of JFrog Ltd. (NASDAQ:FROG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,894 shares of the company's stock, valued at approximately $413,000.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in JFrog in the fourth quarter worth approximately $32,878,000. Raymond James Financial Inc. acquired a new stake in JFrog during the 4th quarter valued at $30,554,000. Mackenzie Financial Corp increased its stake in shares of JFrog by 93.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company's stock worth $58,703,000 after acquiring an additional 965,912 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of JFrog by 48.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company's stock worth $71,961,000 after acquiring an additional 797,949 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in JFrog in the fourth quarter worth $21,322,000. 85.02% of the stock is owned by institutional investors.

JFrog Stock Down 2.5%

Shares of JFrog stock traded down $1.08 during midday trading on Tuesday, hitting $42.32. The company had a trading volume of 1,092,214 shares, compared to its average volume of 1,036,717. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -59.61 and a beta of 1.06. The company has a fifty day simple moving average of $42.22 and a 200 day simple moving average of $37.69. JFrog Ltd. has a 12-month low of $22.91 and a 12-month high of $45.99.

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 for 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, analysts expect that JFrog Ltd. will post -0.33 EPS for the current year.

Insider Transactions at JFrog

In other news, CRO Tali Notman sold 23,157 shares of the company's stock in a transaction on Friday, June 6th. The stock was 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 of the company's stock, valued at $29,623,297.60. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eduard Grabscheid sold 13,043 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was 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 directly owned 159,887 shares in the company, valued at approximately $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. Insiders sold 258,338 shares of company stock worth $11,050,150 in the last quarter. 14.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FROG. Morgan Stanley increased their target price on shares of JFrog from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Scotiabank decreased 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. DA Davidson upped their price objective on shares of JFrog from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Raymond James Financial set a $50.00 target price on shares of JFrog and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, JFrog presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.94.

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.