JFrog (NASDAQ:FROG) Downgraded by Wall Street Zen to Hold

JFrog (NASDAQ:FROG) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts also recently commented on the stock. UBS Group reiterated a “neutral” rating on shares of JFrog in a report on Wednesday, January 14th. Oppenheimer raised shares of JFrog from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, November 7th. Morgan Stanley increased their target price on shares of JFrog from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Barclays lifted their price target on shares of JFrog from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of JFrog in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.71.

JFrog Price Performance

NASDAQ:FROG opened at $47.99 on Friday. The firm has a market cap of $5.68 billion, a PE ratio of -68.56 and a beta of 1.13. The company has a 50-day moving average of $60.87 and a 200 day moving average of $53.24. JFrog has a 1-year low of $27.00 and a 1-year high of $70.43.

JFrog (NASDAQ:FROG) last announced its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $136.91 million for the quarter, compared to analysts’ expectations of $128.28 million. JFrog had a negative return on equity of 6.69% and a negative net margin of 15.88%.The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. Sell-side analysts anticipate that JFrog will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at JFrog

In other JFrog news, CTO Yoav Landman sold 45,000 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $57.71, for a total transaction of $2,596,950.00. Following the sale, the chief technology officer directly owned 5,868,641 shares of the company’s stock, valued at approximately $338,679,272.11. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 25,000 shares of JFrog stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $59.66, for a total value of $1,491,500.00. Following the transaction, the chief executive officer owned 4,766,893 shares of the company’s stock, valued at $284,392,836.38. The trade was a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 382,814 shares of company stock worth $23,671,260. Corporate insiders own 14.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its stake in shares of JFrog by 378.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,543,011 shares of the company’s stock worth $96,376,000 after purchasing an additional 1,220,768 shares during the period. Norges Bank acquired a new position in shares of JFrog in the second quarter worth about $50,968,000. Lazard Asset Management LLC boosted its stake in shares of JFrog by 1,669.6% during the 3rd quarter. Lazard Asset Management LLC now owns 1,185,416 shares of the company’s stock worth $56,106,000 after acquiring an additional 1,118,427 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of JFrog during the 3rd quarter valued at about $51,443,000. Finally, Marshall Wace LLP grew its position in shares of JFrog by 4,233.4% during the 2nd quarter. Marshall Wace LLP now owns 980,179 shares of the company’s stock valued at $43,010,000 after acquiring an additional 957,560 shares during the period. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

About JFrog

JFrog is a software company specializing in DevOps solutions designed to streamline the management, distribution and security of software binaries. Its core offering, JFrog Artifactory, serves as a universal artifact repository manager compatible with all major package formats, enabling development teams to store, version and share build artifacts across the software delivery pipeline. The company’s platform also includes tools for continuous integration and delivery (CI/CD), security scanning and release automation.

Among JFrog’s flagship products are JFrog Xray, a security and compliance scanning service that analyzes artifacts and dependencies for vulnerabilities; JFrog Pipelines, a CI/CD orchestration engine that automates build and release workflows; and JFrog Distribution, which accelerates the secure distribution of software releases to edge nodes and end users.