Lazard Asset Management LLC Grows Stock Holdings in JFrog Ltd. (NASDAQ:FROG)

Lazard Asset Management LLC increased its position in JFrog Ltd. (NASDAQ:FROG) by 39.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,337 shares of the company’s stock after buying an additional 12,583 shares during the quarter. Lazard Asset Management LLC’s holdings in JFrog were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of JFrog by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,589,284 shares of the company’s stock valued at $46,741,000 after acquiring an additional 80,432 shares in the last quarter. abrdn plc raised its stake in JFrog by 4.1% during the 4th quarter. abrdn plc now owns 772,202 shares of the company’s stock valued at $22,784,000 after purchasing an additional 30,392 shares during the period. Vanguard Group Inc. raised its stake in JFrog by 4.1% during 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. Peregrine Capital Management LLC lifted its holdings in JFrog by 11.9% in the 4th quarter. Peregrine Capital Management LLC now owns 327,835 shares of the company’s stock worth $9,642,000 after purchasing an additional 34,900 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in 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 purchasing an additional 365,376 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of JFrog from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Stifel Nicolaus lifted their price target on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC boosted their price target on shares of JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. KeyCorp reissued an “overweight” rating and set a $46.00 price objective (up previously from $36.00) on shares of JFrog in a report on Friday, February 14th. Finally, Scotiabank reduced their target price on JFrog from $40.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.65.

JFrog Stock Performance

Shares of JFrog stock opened at $43.11 on Monday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -68.43 and a beta of 0.97. The stock has a 50 day moving average price of $33.58 and a 200-day moving average price of $33.27. JFrog Ltd. has a one year low of $22.91 and a one year high of $43.79.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. JFrog had a negative return on equity of 6.42% and a negative net margin of 16.16%. The company had revenue of $122.41 million during the quarter, compared to the consensus estimate of $117.44 million. During the same period last year, the company earned $0.16 earnings per share. JFrog’s revenue was up 22.0% on a year-over-year basis. Sell-side analysts predict that JFrog Ltd. will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other JFrog news, CTO Yoav Landman sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $30.45, for a total value of $609,000.00. Following the completion of the sale, the chief technology officer now owns 6,436,901 shares of the company’s stock, valued at $196,003,635.45. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 41,829 shares of the business’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 transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,848 shares of company stock worth $7,746,477. 14.10% of the stock is currently owned by insiders.

JFrog 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.