JFrog Ltd. (NASDAQ:FROG) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in JFrog Ltd. (NASDAQ:FROG) by 56.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company’s stock after selling 19,400 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in JFrog were worth $480,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in JFrog by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,344 shares of the company’s stock valued at $43,000 after buying an additional 329 shares during the last quarter. California State Teachers Retirement System lifted its position in JFrog by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 80,898 shares of the company’s stock valued at $2,379,000 after buying an additional 439 shares during the last quarter. IFP Advisors Inc lifted its position in JFrog by 10.2% in the first quarter. IFP Advisors Inc now owns 5,923 shares of the company’s stock valued at $190,000 after buying an additional 548 shares during the last quarter. Snowden Capital Advisors LLC lifted its position in JFrog by 4.2% in the fourth quarter. Snowden Capital Advisors LLC now owns 13,900 shares of the company’s stock valued at $409,000 after buying an additional 564 shares during the last quarter. Finally, Signaturefd LLC lifted its position in JFrog by 90.9% in the first quarter. Signaturefd LLC now owns 1,254 shares of the company’s stock valued at $40,000 after buying an additional 597 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

JFrog Stock Up 2.1%

Shares of NASDAQ:FROG opened at $41.94 on Thursday. The firm’s 50 day moving average price is $42.01 and its 200 day moving average price is $38.01. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -54.47 and a beta of 1.06. JFrog Ltd. has a fifty-two week low of $25.78 and a fifty-two week high of $46.64.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $122.80 million. JFrog had a negative net margin of 18.18% and a negative return on equity of 7.54%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, equities analysts anticipate that JFrog Ltd. will post -0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FROG. Raymond James Financial increased their price target on shares of JFrog from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Scotiabank reduced their price target on shares of JFrog from $40.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Piper Sandler reissued a “neutral” rating and set a $48.00 price target (up previously from $40.00) on shares of JFrog in a research report on Friday, August 8th. KeyCorp increased their price target on shares of JFrog from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 price target (up previously from $46.00) on shares of JFrog in a research report on Friday, August 8th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, JFrog presently has an average rating of “Moderate Buy” and an average target price of $46.87.

Insider Buying and Selling

In other JFrog news, CRO Tali Notman sold 23,157 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $43.16, for a total value of $999,456.12. Following the transaction, the executive directly owned 686,360 shares in the company, valued at $29,623,297.60. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 54,279 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $43.07, for a total transaction of $2,337,796.53. Following the completion of the transaction, the chief executive officer owned 4,996,412 shares in the company, valued at $215,195,464.84. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 308,338 shares of company stock valued at $13,154,150 over the last three months. 14.10% of the stock is currently owned by insiders.

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.