Ashford Capital Management Inc. Cuts Position in JFrog Ltd. (NASDAQ:FROG)

Ashford Capital Management Inc. trimmed its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,600 shares of the company’s stock after selling 48,870 shares during the quarter. Ashford Capital Management Inc. owned 0.33% of JFrog worth $9,782,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FROG. Vanguard Group Inc. grew its stake in JFrog by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company’s stock valued at $259,882,000 after purchasing an additional 349,532 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of JFrog by 12.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock worth $100,002,000 after buying an additional 365,376 shares during the last quarter. Champlain Investment Partners LLC grew its position in JFrog by 48.4% during the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock valued at $71,961,000 after buying an additional 797,949 shares during the period. Wasatch Advisors LP increased its holdings in JFrog by 3.3% during the fourth quarter. Wasatch Advisors LP now owns 2,211,088 shares of the company’s stock worth $65,028,000 after buying an additional 70,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in JFrog by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,785,401 shares of the company’s stock worth $52,509,000 after acquiring an additional 53,622 shares during the period. 85.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ben Haim Shlomi sold 41,829 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.55, for a total value of $1,528,849.95. Following the sale, the chief executive officer now directly owns 4,982,254 shares of the company’s stock, valued at $182,101,383.70. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yossi Sela sold 14,300 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $40.52, for a total transaction of $579,436.00. Following the completion of the transaction, the director now directly owns 306,277 shares of the company’s stock, valued at approximately $12,410,344.04. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,848 shares of company stock worth $7,746,477. 14.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FROG has been the subject of a number of research reports. Truist Financial increased their target price on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 14th. KeyCorp reissued an “overweight” rating and issued a $46.00 target price (up from $36.00) on shares of JFrog in a research report on Friday, February 14th. Stifel Nicolaus boosted their target price on JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $46.00 price target on shares of JFrog in a research note on Monday, May 5th. Finally, Barclays decreased their price objective on JFrog from $48.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.65.

JFrog Trading Down 1.0%

JFrog stock opened at $42.66 on Tuesday. The firm’s 50 day simple moving average is $33.77 and its 200 day simple moving average is $33.36. JFrog Ltd. has a 1-year low of $22.91 and a 1-year high of $43.79. The firm has a market capitalization of $4.89 billion, a PE ratio of -67.71 and a beta of 0.97.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $122.41 million for the quarter, compared to analysts’ expectations of $117.44 million. JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Research analysts forecast that JFrog Ltd. will post -0.33 earnings per share for the current year.

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.