23,754 Shares in JFrog Ltd. (NASDAQ:FROG) Acquired by Virtu Financial LLC

Key Points

• Virtu Financial LLC has made a $760,000 investment in JFrog Ltd., acquiring 23,754 shares during the first quarter, as disclosed in their SEC filing.
• JFrog recently reported a quarterly earnings per share of $0.18, exceeding analysts' expectations, with a revenue increase of 23.5% year-over-year.
• Various institutional investors have also increased their holdings in JFrog, with institutional ownership now at 85.02% of the company's stock.

Virtu Financial LLC bought a new stake in JFrog Ltd. (NASDAQ:FROG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,754 shares of the company's stock, valued at approximately $760,000.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of JFrog by 45.1% in the 1st quarter. Invesco Ltd. now owns 22,311 shares of the company's stock valued at $714,000 after buying an additional 6,938 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in JFrog by 14.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 605,721 shares of the company's stock worth $19,383,000 after purchasing an additional 77,461 shares during the period. Deutsche Bank AG boosted its stake in JFrog by 21.7% during the 1st quarter. Deutsche Bank AG now owns 193,256 shares of the company's stock worth $6,184,000 after purchasing an additional 34,449 shares during the period. Vanguard Group Inc. boosted its stake in JFrog by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 8,871,984 shares of the company's stock worth $283,903,000 after purchasing an additional 35,458 shares during the period. Finally, Probity Advisors Inc. boosted its stake in JFrog by 10.3% during the 1st quarter. Probity Advisors Inc. now owns 8,326 shares of the company's stock worth $266,000 after purchasing an additional 775 shares during the period. Institutional investors and hedge funds own 85.02% of the company's stock.

Insider Activity

In other JFrog news, CRO Tali Notman sold 23,157 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $43.16, for a total transaction of $999,456.12. Following the completion of the transaction, the executive directly owned 686,360 shares in the company, valued at approximately $29,623,297.60. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Yoav Landman sold 50,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $43.26, for a total transaction of $2,163,000.00. Following the sale, the chief technology officer directly owned 6,371,086 shares in the company, valued at $275,613,180.36. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 308,338 shares of company stock worth $13,154,150 in the last three months. Company insiders own 14.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FROG shares. Stifel Nicolaus increased their price target on shares of JFrog from $45.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target (up previously from $46.00) on shares of JFrog in a research note on Friday, August 8th. Raymond James Financial increased their price target on shares of JFrog from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Robert W. Baird set a $47.00 price objective on shares of JFrog and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Cantor Fitzgerald upped their price objective on shares of JFrog from $46.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Two 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.87.

JFrog Trading Up 5.6%

Shares of FROG traded up $2.38 during trading hours on Friday, reaching $45.11. The company had a trading volume of 2,107,467 shares, compared to its average volume of 1,396,270. The firm has a 50 day simple moving average of $42.05 and a 200-day simple moving average of $38.13. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -58.58 and a beta of 1.06. JFrog Ltd. has a 12-month low of $25.93 and a 12-month high of $46.64.

JFrog (NASDAQ:FROG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. JFrog had a negative net margin of 18.18% and a negative return on equity of 7.54%. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $122.80 million. During the same period last year, the firm posted $0.15 EPS. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. Sell-side analysts forecast that JFrog Ltd. will post -0.33 earnings per share for the current 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.