JFrog (NASDAQ:FROG) Reaches New 1-Year High Following Strong Earnings

Shares of JFrog Ltd. (NASDAQ:FROG) reached a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $46.64 and last traded at $43.29, with a volume of 992030 shares changing hands. The stock had previously closed at $38.79.

The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. JFrog had a negative return on equity of 7.66% and a negative net margin of 18.18%. The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $122.80 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year.

Analyst Ratings Changes

FROG has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of JFrog from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Cantor Fitzgerald boosted their price target on JFrog from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus raised their price objective on JFrog from $45.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. DA Davidson boosted their target price on JFrog from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Wall Street Zen raised shares of JFrog from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. Two 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, JFrog has an average rating of “Moderate Buy” and a consensus target price of $46.87.

Insider Buying and Selling at JFrog

In other news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $41.71, for a total value of $1,459,850.00. Following the completion of the transaction, the director directly owned 4,239,903 shares in the company, valued at approximately $176,846,354.13. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ben Haim Shlomi sold 54,279 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 4,996,412 shares of the company’s stock, valued at approximately $215,195,464.84. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,338 shares of company stock valued at $11,050,150. 14.10% of the stock is owned by company insiders.

Institutional Trading of JFrog

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in JFrog by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 8,871,984 shares of the company’s stock valued at $283,903,000 after purchasing an additional 35,458 shares in the last quarter. TimesSquare Capital Management LLC grew its position in shares of JFrog by 6.5% during the first quarter. TimesSquare Capital Management LLC now owns 3,622,911 shares of the company’s stock worth $115,933,000 after buying an additional 222,635 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of JFrog by 65.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,630,179 shares of the company’s stock worth $84,166,000 after buying an additional 1,037,482 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of JFrog by 48.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock worth $71,961,000 after buying an additional 797,949 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in JFrog by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 2,211,088 shares of the company’s stock valued at $65,028,000 after acquiring an additional 70,204 shares in the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.

JFrog Price Performance

The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -56.65 and a beta of 1.06. The firm’s fifty day moving average is $42.13 and its 200-day moving average is $37.86.

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.