ARK Investment Management LLC Reduces Stock Holdings in JFrog Ltd. (NASDAQ:FROG)

ARK Investment Management LLC reduced its position in shares of JFrog Ltd. (NASDAQ:FROG) by 5.2% in the third quarter, HoldingsChannel reports. The firm owned 54,263 shares of the company’s stock after selling 2,987 shares during the quarter. ARK Investment Management LLC’s holdings in JFrog were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in JFrog by 16.4% during the first quarter. Janney Montgomery Scott LLC now owns 22,938 shares of the company’s stock valued at $1,014,000 after buying an additional 3,233 shares during the period. Duality Advisers LP bought a new stake in shares of JFrog during the 1st quarter valued at $205,000. Swiss National Bank increased its stake in shares of JFrog by 8.0% in the 1st quarter. Swiss National Bank now owns 165,600 shares of the company’s stock worth $7,323,000 after purchasing an additional 12,200 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in JFrog by 52.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 17,830 shares of the company’s stock worth $788,000 after purchasing an additional 6,125 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in JFrog by 394.2% during the first quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock valued at $1,268,000 after purchasing an additional 22,864 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Trading Down 5.4 %

NASDAQ:FROG opened at $31.10 on Friday. The business’s 50-day moving average is $29.07 and its 200 day moving average is $32.44. JFrog Ltd. has a 12 month low of $22.91 and a 12 month high of $48.81. The company has a market capitalization of $3.17 billion, a P/E ratio of -69.11 and a beta of 0.93.

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

Insider Activity at JFrog

In related news, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.85, for a total transaction of $462,750.00. Following the sale, the chief technology officer now owns 6,612,242 shares of the company’s stock, valued at $203,987,665.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ben Haim Shlomi sold 35,550 shares of JFrog stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total value of $1,066,500.00. Following the completion of the transaction, the chief executive officer now owns 4,975,229 shares in the company, valued at approximately $149,256,870. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.85, for a total value of $462,750.00. Following the sale, the chief technology officer now owns 6,612,242 shares in the company, valued at $203,987,665.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,031 shares of company stock valued at $3,618,247. 15.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on FROG shares. Scotiabank upped their price target on JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday. Needham & Company LLC raised their target price on shares of JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird lifted their price target on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday. Baird R W raised shares of JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, KeyCorp lifted their target price on shares of JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

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.