Moody National Bank Trust Division Invests $822,000 in JFrog Ltd. $FROG

Moody National Bank Trust Division purchased a new stake in JFrog Ltd. (NASDAQ:FROG) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,050 shares of the company’s stock, valued at approximately $822,000.

A number of other institutional investors have also recently modified their holdings of FROG. First Trust Advisors LP grew its holdings in JFrog by 85,066.4% during the first quarter. First Trust Advisors LP now owns 3,362,370 shares of the company’s stock worth $157,796,000 after acquiring an additional 3,358,422 shares during the period. Wasatch Advisors LP lifted its holdings in JFrog by 187.4% in the first quarter. Wasatch Advisors LP now owns 4,156,033 shares of the company’s stock valued at $195,043,000 after acquiring an additional 2,710,167 shares during the period. Whale Rock Capital Management LLC boosted its position in shares of JFrog by 82.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 5,297,812 shares of the company’s stock worth $330,901,000 after purchasing an additional 2,389,415 shares in the last quarter. Invesco Ltd. boosted its position in shares of JFrog by 6,868.3% during the 4th quarter. Invesco Ltd. now owns 2,104,071 shares of the company’s stock worth $131,420,000 after purchasing an additional 2,073,876 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of JFrog during the 1st quarter worth $78,872,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Barry Zwarenstein sold 1,250 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $80.10, for a total value of $100,125.00. Following the sale, the director directly owned 31,687 shares in the company, valued at $2,538,128.70. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eduard Grabscheid sold 5,654 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $84.69, for a total transaction of $478,837.26. Following the transaction, the chief financial officer directly owned 209,658 shares of the company’s stock, valued at approximately $17,755,936.02. This trade represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 938,649 shares of company stock valued at $76,347,827. 11.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on FROG. TD Cowen raised their price objective on shares of JFrog from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. upped their target price on shares of JFrog from $76.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 target price on shares of JFrog in a report on Friday, May 8th. Cantor Fitzgerald boosted their price target on JFrog from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Bank of America upped their price target on JFrog from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Twenty-one research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.19.

JFrog Stock Down 2.0%

JFrog stock opened at $84.52 on Thursday. JFrog Ltd. has a 52 week low of $34.05 and a 52 week high of $99.22. The firm’s 50-day simple moving average is $84.75 and its 200 day simple moving average is $62.74. The firm has a market capitalization of $10.24 billion, a PE ratio of -159.47 and a beta of 1.22.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $153.98 million for the quarter, compared to analysts’ expectations of $147.45 million. JFrog had a negative net margin of 10.93% and a negative return on equity of 4.61%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. On average, research analysts expect that JFrog Ltd. will post -0.15 EPS for the current fiscal year.

JFrog Profile

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.