Norges Bank Takes $32.88 Million Position in JFrog Ltd. (NASDAQ:FROG)

Norges Bank purchased a new stake in JFrog Ltd. (NASDAQ:FROG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,117,914 shares of the company's stock, valued at approximately $32,878,000. Norges Bank owned about 1.10% of JFrog as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of JFrog by 91.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,204 shares of the company's stock worth $35,000 after buying an additional 574 shares during the last quarter. KBC Group NV boosted its position in JFrog by 39.0% in the 4th quarter. KBC Group NV now owns 3,938 shares of the company's stock valued at $116,000 after buying an additional 1,105 shares during the period. BankPlus Trust Department purchased a new stake in JFrog in the 4th quarter valued at about $131,000. SG Americas Securities LLC purchased a new stake in JFrog in the 4th quarter valued at about $193,000. Finally, Park Avenue Securities LLC purchased a new stake in JFrog in the 4th quarter valued at about $204,000. 85.02% of the stock is currently owned by institutional investors.

JFrog Trading Down 2.9 %

FROG traded down $0.91 during midday trading on Thursday, hitting $30.64. 83,991 shares of the company traded hands, compared to its average volume of 1,150,073. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -48.63 and a beta of 0.98. JFrog Ltd. has a 52-week low of $22.91 and a 52-week high of $43.00. The business has a 50 day simple moving average of $34.79 and a two-hundred day simple moving average of $32.25.

JFrog (NASDAQ:FROG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative return on equity of 6.42% and a negative net margin of 16.16%. The firm had revenue of $116.08 million for the quarter, compared to analyst estimates of $114.16 million. Equities research analysts anticipate that JFrog Ltd. will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In other JFrog news, CRO Tali Notman sold 75,635 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the completion of the transaction, the executive now owns 582,394 shares of the company's stock, valued at $20,383,790. This trade represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.55, for a total transaction of $473,250.00. Following the transaction, the chief technology officer now directly owns 6,567,242 shares of the company's stock, valued at approximately $207,196,485.10. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 421,329 shares of company stock worth $14,953,818. Insiders own 15.70% of the company's stock.

Analyst Ratings Changes

FROG has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of JFrog from $36.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Truist Financial boosted their price objective on shares of JFrog from $35.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $38.00 price objective on shares of JFrog in a research note on Wednesday, February 12th. Canaccord Genuity Group boosted their price objective on shares of JFrog from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Barclays boosted their price objective on shares of JFrog from $38.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $41.06.

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.