Barclays Lowers JFrog (NASDAQ:FROG) Price Target to $38.00

JFrog (NASDAQ:FROG) had its target price trimmed by Barclays from $40.00 to $38.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also commented on FROG. Scotiabank boosted 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, November 8th. Needham & Company LLC increased their price target on shares of JFrog from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler lowered their price target on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Bank of America reduced their price objective on shares of JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 target price on shares of JFrog in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, JFrog currently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

JFrog Stock Up 0.3 %

Shares of NASDAQ:FROG opened at $31.49 on Monday. The firm has a 50 day moving average of $29.40 and a 200 day moving average of $32.14. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -59.42 and a beta of 0.93. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81.

Insiders Place Their Bets

In other news, CEO Ben Haim Shlomi sold 17,775 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $31.93, for a total value of $567,555.75. Following the sale, the chief executive officer now owns 4,957,454 shares in the company, valued at $158,291,506.22. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the business’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 transaction, the chief technology officer now owns 6,612,242 shares of the company’s stock, valued at $203,987,665.70. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,806 shares of company stock valued at $4,185,802. 15.70% of the stock is owned by insiders.

Institutional Trading of JFrog

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of JFrog by 7.4% in the first quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after acquiring an additional 523,432 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of JFrog by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after acquiring an additional 561,897 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of JFrog by 114.1% during the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares in the last quarter. North Peak Capital Management LLC acquired a new position in JFrog in the 3rd quarter valued at $73,417,000. Finally, Thrivent Financial for Lutherans lifted its holdings in JFrog by 33.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after purchasing an additional 593,478 shares in the last quarter. Hedge funds and other 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.