Peregrine Capital Management LLC Cuts Stake in JFrog Ltd. (NASDAQ:FROG)

Peregrine Capital Management LLC reduced its stake in JFrog Ltd. (NASDAQ:FROG - Free Report) by 6.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 306,156 shares of the company's stock after selling 21,679 shares during the quarter. Peregrine Capital Management LLC owned 0.27% of JFrog worth $9,797,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in JFrog in the fourth quarter worth about $32,878,000. Raymond James Financial Inc. purchased a new stake in shares of JFrog during the 4th quarter worth approximately $30,554,000. Mackenzie Financial Corp raised its holdings 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 worth $58,703,000 after purchasing an additional 965,912 shares during the period. Champlain Investment Partners LLC lifted its stake in JFrog by 48.4% in the fourth 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. Finally, Bamco Inc. NY purchased a new position in JFrog in the fourth quarter valued at approximately $21,322,000. Institutional investors own 85.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley boosted their target price on JFrog from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Barclays decreased their price objective on JFrog from $48.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Wall Street Zen raised shares of JFrog from a "hold" rating to a "buy" rating in a report on Sunday. Scotiabank cut 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 report on Thursday, April 24th. Finally, DA Davidson boosted their price target on shares of JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, JFrog currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.06.

JFrog Stock Down 3.0%

NASDAQ:FROG traded down $1.26 during trading hours on Wednesday, hitting $41.35. 866,341 shares of the company's stock traded hands, compared to its average volume of 1,119,269. JFrog Ltd. has a 52 week low of $22.91 and a 52 week high of $45.10. The business's fifty day simple moving average is $40.59 and its two-hundred day simple moving average is $35.87. The firm has a market cap of $4.74 billion, a P/E ratio of -58.24 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 for the quarter, beating the consensus estimate of $0.16 by $0.04. JFrog had a negative return on equity of 7.24% and a negative net margin of 17.52%. The firm had revenue of $122.41 million for the quarter, compared to analysts' expectations of $117.44 million. During the same quarter last year, the firm posted $0.16 EPS. The company's revenue was up 22.0% compared to the same quarter last year. On average, analysts expect that JFrog Ltd. will post -0.33 EPS for the current year.

Insider Activity at JFrog

In other JFrog news, Director Frederic Simon sold 20,000 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $28.66, for a total transaction of $573,200.00. Following the sale, the director owned 4,354,432 shares in the company, valued at $124,798,021.12. This trade represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Tali Notman sold 23,157 shares of JFrog stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $43.16, for a total value of $999,456.12. Following the sale, the executive directly owned 686,360 shares of the company's stock, 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. Insiders sold a total of 216,113 shares of company stock worth $8,568,964 in the last three months. 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.