Stifel Nicolaus Lowers JFrog (NASDAQ:FROG) Price Target to $30.00

JFrog (NASDAQ:FROG) had its price target lowered by Stifel Nicolaus from $45.00 to $30.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently commented on FROG. FBN Securities began coverage on JFrog in a research note on Wednesday, May 22nd. They issued an outperform rating and a $45.00 target price for the company. Oppenheimer downgraded JFrog from an outperform rating to a market perform rating in a research note on Thursday. Canaccord Genuity Group cut their target price on JFrog from $48.00 to $38.00 and set a buy rating for the company in a research note on Thursday. Bank of America cut their target price on JFrog from $54.00 to $44.00 and set a buy rating for the company in a research note on Thursday. Finally, TD Cowen began coverage on JFrog in a research note on Wednesday, July 24th. They issued a buy rating and a $50.00 target price for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $38.00.

JFrog Trading Up 5.9 %

Shares of FROG stock traded up $1.46 on Thursday, hitting $26.14. 3,122,110 shares of the stock were exchanged, compared to its average volume of 1,272,460. The firm has a market capitalization of $2.66 billion, a PE ratio of -55.62 and a beta of 0.96. JFrog has a one year low of $21.38 and a one year high of $48.81. The firm’s 50 day moving average is $35.00 and its two-hundred day moving average is $37.82.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, hitting 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, sell-side analysts expect that JFrog will post -0.21 earnings per share for the current year.

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 57,550 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.70, for a total value of $1,144,500.00. Following the completion of the transaction, the director now directly owns 4,619,432 shares in the company, valued at $151,055,426.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 272,107 shares of company stock valued at $9,513,787. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

A number of large investors have recently bought and sold shares of FROG. Arizona State Retirement System increased its stake in JFrog by 7.2% in the 4th quarter. Arizona State Retirement System now owns 21,761 shares of the company’s stock worth $753,000 after purchasing an additional 1,455 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of JFrog in the 4th quarter worth approximately $263,000. International Assets Investment Management LLC bought a new stake in shares of JFrog in the 4th quarter worth approximately $2,983,000. NewEdge Wealth LLC grew its position in shares of JFrog by 32.7% in the 4th quarter. NewEdge Wealth LLC now owns 196,938 shares of the company’s stock worth $6,816,000 after buying an additional 48,585 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of JFrog by 1.2% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 45,767 shares of the company’s stock worth $1,584,000 after buying an additional 535 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.

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.