VELA Investment Management LLC Increases Stake in JFrog Ltd. (NASDAQ:FROG)

VELA Investment Management LLC raised its position in JFrog Ltd. (NASDAQ:FROG) by 39.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 78,545 shares of the company’s stock after acquiring an additional 22,118 shares during the period. JFrog makes up 0.9% of VELA Investment Management LLC’s investment portfolio, making the stock its 28th largest holding. VELA Investment Management LLC owned 0.08% of JFrog worth $2,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FROG. Assenagon Asset Management S.A. acquired a new stake in JFrog in the second quarter valued at about $6,576,000. Quadrature Capital Ltd purchased a new position in shares of JFrog during the 4th quarter worth approximately $2,206,000. Russell Investments Group Ltd. raised its stake in shares of JFrog by 394.2% during the 1st quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock worth $1,268,000 after buying an additional 22,864 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of JFrog in the 4th quarter valued at approximately $22,086,000. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of JFrog in the first quarter valued at approximately $5,337,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

FROG has been the subject of several research analyst reports. Cantor Fitzgerald cut their price objective on JFrog from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. TD Cowen lowered their price target on shares of JFrog from $50.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC raised their price objective on shares of JFrog from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. FBN Securities began coverage on shares of JFrog in a research report on Wednesday, May 22nd. They set an “outperform” rating and a $45.00 target price on the stock. Finally, Barclays dropped their target price on shares of JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insiders Place Their Bets

In other news, CTO Yoav Landman sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total value of $79,380.00. Following the completion of the transaction, the chief technology officer now owns 6,744,892 shares of the company’s stock, valued at $237,959,789.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Ben Haim Shlomi sold 20,606 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total transaction of $557,598.36. Following the transaction, the chief executive officer now directly owns 5,027,493 shares in the company, valued at $136,043,960.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Yoav Landman sold 2,250 shares of JFrog stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total value of $79,380.00. Following the completion of the sale, the chief technology officer now owns 6,744,892 shares of the company’s stock, valued at approximately $237,959,789.76. The disclosure for this sale can be found here. Insiders have sold 212,625 shares of company stock valued at $7,304,041 in the last ninety days. Insiders own 15.70% of the company’s stock.

JFrog Stock Performance

JFrog stock opened at $28.40 on Friday. JFrog Ltd. has a fifty-two week low of $21.38 and a fifty-two week high of $48.81. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -60.43 and a beta of 0.93. The stock has a fifty day moving average of $32.61 and a two-hundred day moving average of $36.59.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The company had revenue of $103.04 million for the quarter, compared to analyst estimates of $103.53 million. On average, analysts forecast that JFrog Ltd. will post -0.28 EPS for the current fiscal year.

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.