Verdence Capital Advisors LLC Invests $284,000 in JFrog Ltd. (NASDAQ:FROG)

Verdence Capital Advisors LLC bought a new position in JFrog Ltd. (NASDAQ:FROG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,869 shares of the company's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FROG. Norges Bank purchased a new position in JFrog during the fourth quarter valued at $32,878,000. Raymond James Financial Inc. bought a new position in shares of JFrog during the 4th quarter valued at approximately $30,554,000. Mackenzie Financial Corp raised its holdings in JFrog by 93.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company's stock valued at $58,703,000 after buying an additional 965,912 shares during the period. Champlain Investment Partners LLC lifted its holdings 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 worth $71,961,000 after acquiring an additional 797,949 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of JFrog in the fourth quarter worth approximately $21,322,000. Institutional investors own 85.02% of the company's stock.

JFrog Stock Performance

Shares of FROG stock traded up $0.34 during trading hours on Tuesday, reaching $42.29. The company had a trading volume of 690,291 shares, compared to its average volume of 1,121,439. JFrog Ltd. has a 12-month low of $22.91 and a 12-month high of $45.10. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of -59.56 and a beta of 1.06. The stock has a fifty day moving average of $42.20 and a 200-day moving average of $36.85.

JFrog (NASDAQ:FROG - Get Free Report) last announced 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 net margin of 17.52% and a negative return on equity of 7.24%. The firm had revenue of $122.41 million for the quarter, compared to analysts' expectations of $117.44 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company's revenue was up 22.0% compared to the same quarter last year. On average, analysts forecast that JFrog Ltd. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Scotiabank cut their price objective on shares of JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Barclays reaffirmed an "overweight" rating and set a $45.00 price target (up from $42.00) on shares of JFrog in a research report on Monday. Cantor Fitzgerald reissued an "overweight" rating and set a $46.00 price target on shares of JFrog in a report on Monday, May 5th. Finally, DA Davidson raised their target price on JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, JFrog currently has a consensus rating of "Moderate Buy" and an average target price of $42.25.

Insiders Place Their Bets

In other JFrog news, CTO Yoav Landman sold 8,734 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $42.39, for a total transaction of $370,234.26. Following the transaction, the chief technology officer directly owned 6,321,086 shares in the company, valued at $267,950,835.54. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederic Simon sold 35,000 shares of JFrog 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,338 shares of company stock worth $11,050,150. Insiders own 14.10% of the company's stock.

JFrog Company 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.