JFrog (NASDAQ:FROG) Hits New 12-Month High Following Analyst Upgrade

JFrog Ltd. (NASDAQ:FROG)’s stock price reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $115.00 to $120.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. JFrog traded as high as $105.76 and last traded at $106.0390, with a volume of 412,721 shares traded. The stock had previously closed at $100.98.

Other equities analysts also recently issued research reports about the company. BTIG Research reiterated a “buy” rating and set a $115.00 price target on shares of JFrog in a research note on Friday, September 4th. KeyCorp upped their target price on shares of JFrog from $114.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays reiterated an “overweight” rating and issued a $110.00 target price on shares of JFrog in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of JFrog in a research report on Thursday, October 15th. Finally, Canaccord Genuity Group boosted their price target on shares of JFrog from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Twenty-one research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.43.

Insider Buying and Selling at JFrog

In other JFrog news, CTO Yoav Landman sold 45,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $97.27, for a total transaction of $4,377,150.00. Following the completion of the transaction, the chief technology officer directly owned 5,109,038 shares of the company’s stock, valued at approximately $496,956,126.26. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Zwarenstein sold 1,250 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $90.10, for a total value of $112,625.00. Following the completion of the sale, the director owned 29,187 shares in the company, valued at $2,629,748.70. This represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 900,453 shares of company stock valued at $85,299,266 in the last three months. 11.80% of the stock is owned by corporate insiders.

Institutional Trading of JFrog

Several hedge funds and other institutional investors have recently modified their holdings of FROG. First Trust Advisors LP raised its position in JFrog by 85,066.4% in the 1st quarter. First Trust Advisors LP now owns 3,362,370 shares of the company’s stock worth $157,796,000 after purchasing an additional 3,358,422 shares during the period. Bank of America Corp DE boosted its position in JFrog by 48.2% during the first quarter. Bank of America Corp DE now owns 2,517,899 shares of the company’s stock valued at $118,165,000 after buying an additional 819,326 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in JFrog by 78.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,964,925 shares of the company’s stock valued at $92,214,000 after buying an additional 861,835 shares during the period. Lazard Asset Management LLC boosted its position in JFrog by 41.9% during the first quarter. Lazard Asset Management LLC now owns 1,716,050 shares of the company’s stock valued at $80,534,000 after buying an additional 506,366 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of JFrog by 48.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,592,386 shares of the company’s stock valued at $74,731,000 after buying an additional 517,291 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.

JFrog Price Performance

The stock has a market capitalization of $13.11 billion, a P/E ratio of -589.64 and a beta of 1.31. The stock has a 50 day moving average price of $93.42 and a 200-day moving average price of $72.58.

JFrog (NASDAQ:FROG) last released its earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $179.17 million during the quarter, compared to analyst estimates of $165.92 million. JFrog had a negative return on equity of 1.58% and a negative net margin of 3.29%. JFrog’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. Research analysts predict that JFrog Ltd. will post -0.11 earnings per share for the current fiscal year.

JFrog Company Profile

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.