JFrog Ltd. (NASDAQ:FROG) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP decreased its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 27.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,658 shares of the company’s stock after selling 5,800 shares during the quarter. Bayesian Capital Management LP’s holdings in JFrog were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of JFrog by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock valued at $178,344,000 after buying an additional 679,007 shares during the last quarter. Arizona State Retirement System boosted its position in shares of JFrog by 7.2% in the 4th quarter. Arizona State Retirement System now owns 21,761 shares of the company’s stock valued at $753,000 after purchasing an additional 1,455 shares during the period. Asset Management One Co. Ltd. purchased a new position in JFrog during the 4th quarter worth approximately $263,000. International Assets Investment Management LLC acquired a new position in JFrog during the fourth quarter worth approximately $2,983,000. Finally, NewEdge Wealth LLC lifted its stake in JFrog by 32.7% in the fourth quarter. NewEdge Wealth LLC now owns 196,938 shares of the company’s stock valued at $6,816,000 after buying an additional 48,585 shares during the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FROG shares. KeyCorp reduced their price target on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Scotiabank decreased their target price on shares of JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of JFrog in a research note on Tuesday, June 25th. UBS Group assumed coverage on JFrog in a report on Wednesday, May 22nd. They issued a “buy” rating and a $41.00 target price on the stock. Finally, TD Cowen initiated coverage on JFrog in a report on Wednesday, July 24th. They set a “buy” rating and a $50.00 price target for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.07.

JFrog Stock Performance

NASDAQ:FROG traded up $0.68 during mid-day trading on Tuesday, hitting $38.67. 628,947 shares of the company’s stock traded hands, compared to its average volume of 1,202,365. The firm’s 50 day simple moving average is $34.92 and its 200 day simple moving average is $37.85. The company has a market cap of $3.94 billion, a PE ratio of -80.83 and a beta of 0.96. JFrog Ltd. has a 1 year low of $21.38 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. The company had revenue of $100.31 million during the quarter, compared to the consensus estimate of $98.63 million. On average, research analysts expect that JFrog Ltd. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other JFrog news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total transaction of $1,144,500.00. Following the completion of the sale, the director now directly owns 4,619,432 shares in the company, valued at $151,055,426.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total transaction of $1,144,500.00. Following the transaction, the director now owns 4,619,432 shares in the company, valued at approximately $151,055,426.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Yoav Landman sold 2,250 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total value of $79,380.00. Following the completion of the sale, the chief technology officer now owns 6,744,892 shares of the company’s stock, valued at $237,959,789.76. The disclosure for this sale can be found here. Insiders have sold 257,207 shares of company stock valued at $8,915,764 in the last three months. Corporate insiders own 15.70% of the company’s stock.

JFrog Company Profile

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.