JFrog (NASDAQ:FROG) Shares Gap Up – What’s Next?

Shares of JFrog Ltd. (NASDAQ:FROG) gapped up before the market opened on Friday . The stock had previously closed at $29.72, but opened at $31.50. JFrog shares last traded at $30.41, with a volume of 763,471 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FROG shares. UBS Group cut their target price on shares of JFrog from $41.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price on shares of JFrog in a report on Monday, September 16th. Piper Sandler cut their price target on JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Bank of America decreased their price objective on JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Barclays cut their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.28.

JFrog Trading Up 4.1 %

The firm has a market capitalization of $3.15 billion, a PE ratio of -66.04 and a beta of 0.94. The stock has a 50 day simple moving average of $28.16 and a 200 day simple moving average of $33.98.

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

Insiders Place Their Bets

In related news, CRO Tali Notman sold 10,699 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.29, for a total value of $302,674.71. Following the sale, the executive now directly owns 536,714 shares of the company’s stock, valued at $15,183,639.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other JFrog news, CTO Yoav Landman sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $25.68, for a total transaction of $385,200.00. Following the completion of the sale, the chief technology officer now directly owns 6,642,242 shares in the company, valued at approximately $170,572,774.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Tali Notman sold 10,699 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.29, for a total value of $302,674.71. Following the completion of the transaction, the executive now directly owns 536,714 shares in the company, valued at $15,183,639.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,481 shares of company stock worth $5,861,597 over the last three months. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Several hedge funds and other institutional investors have recently bought and sold shares of FROG. Future Financial Wealth Managment LLC bought a new stake in shares of JFrog in the third quarter worth $29,000. Advisors Asset Management Inc. grew its stake in shares of JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares during the period. RiverPark Advisors LLC bought a new stake in shares of JFrog during the 1st quarter valued at about $140,000. SG Americas Securities LLC purchased a new position in shares of JFrog in the second quarter worth approximately $187,000. Finally, Sanctuary Advisors LLC bought a new stake in JFrog during the second quarter valued at approximately $188,000. Institutional investors own 85.02% of the company’s stock.

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.