JFrog (NASDAQ:FROG) Sets New 12-Month High - Here's What Happened

Key Points

• JFrog Ltd. shares reached a new 52-week high of $45.19 during mid-day trading, closing at $45.08 with a trading volume of 895,416 shares.
• Brokerages have shown confidence in JFrog, with Morgan Stanley and Raymond James raising their price targets, while the consensus rating is "Moderate Buy" with a target price of $42.25.
• Despite the positive performances, insiders have sold over 258,000 shares in the last three months, indicating potential profit-taking amidst recent stock price gains.

JFrog Ltd. (NASDAQ:FROG - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $45.19 and last traded at $45.08, with a volume of 895416 shares traded. The stock had previously closed at $43.36.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $46.00 price target on shares of JFrog in a research note on Monday, May 5th. Scotiabank cut their price target on JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Barclays reiterated an "overweight" rating and issued a $45.00 price target (up previously from $42.00) on shares of JFrog in a research note on Monday, July 21st. Raymond James Financial set a $50.00 price target on JFrog and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, JFrog has an average rating of "Moderate Buy" and a consensus price target of $42.25.

JFrog Stock Performance

The firm has a market capitalization of $4.85 billion, a P/E ratio of -59.64 and a beta of 1.06. The business has a fifty day moving average of $42.21 and a 200-day moving average of $37.48.

JFrog (NASDAQ:FROG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $122.41 million during the quarter, compared to analyst estimates of $117.44 million. During the same period in the prior year, the company posted $0.16 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities research analysts forecast that JFrog Ltd. will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $41.71, for a total transaction of $1,459,850.00. Following the completion of the transaction, the director directly owned 4,239,903 shares of the company's stock, valued at approximately $176,846,354.13. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Yoav Landman sold 50,000 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $43.26, for a total value of $2,163,000.00. Following the transaction, the chief technology officer directly owned 6,371,086 shares of the company's stock, valued at approximately $275,613,180.36. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.

Hedge Funds Weigh In On JFrog

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FROG. Sei Investments Co. boosted its stake in JFrog by 9.2% during the 4th quarter. Sei Investments Co. now owns 60,485 shares of the company's stock valued at $1,779,000 after purchasing an additional 5,105 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in JFrog during the 4th quarter valued at $571,000. LPL Financial LLC boosted its stake in JFrog by 19.8% during the 4th quarter. LPL Financial LLC now owns 22,002 shares of the company's stock valued at $647,000 after purchasing an additional 3,633 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of JFrog by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company's stock valued at $259,882,000 after acquiring an additional 349,532 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of JFrog by 5.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,589,284 shares of the company's stock valued at $46,741,000 after acquiring an additional 80,432 shares during the last quarter. 85.02% of the stock is owned by institutional investors.

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.