Oppenheimer Downgrades JFrog (NASDAQ:FROG) to Market Perform

JFrog (NASDAQ:FROG) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

Several other research analysts also recently commented on FROG. Morgan Stanley lowered their target price on JFrog from $52.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Scotiabank lowered their price objective on shares of JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Friday, May 10th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of JFrog in a research report on Tuesday, June 25th. KeyCorp decreased their target price on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, UBS Group began coverage on JFrog in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $41.00 price target for the company. Three 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

JFrog Trading Up 5.9 %

NASDAQ FROG traded up $1.46 on Thursday, hitting $26.14. 3,122,110 shares of the company’s stock were exchanged, compared to its average volume of 1,272,460. The stock has a 50-day moving average of $35.00 and a 200-day moving average of $37.79. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -55.62 and a beta of 0.96. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. As a group, analysts predict that JFrog will post -0.21 earnings per share for the current year.

Insider Activity at JFrog

In other news, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.35, for a total transaction of $485,250.00. Following the completion of the sale, the chief technology officer now directly owns 6,747,142 shares of the company’s stock, valued at $218,270,043.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.35, for a total transaction of $485,250.00. Following the transaction, the chief technology officer now owns 6,747,142 shares of the company’s stock, valued at $218,270,043.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total value of $1,144,500.00. Following the completion of the sale, the director now directly owns 4,619,432 shares of the company’s stock, valued at $151,055,426.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,107 shares of company stock valued at $9,513,787. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. George Kaiser Family Foundation boosted its position in JFrog by 0.7% in the second quarter. George Kaiser Family Foundation now owns 75,037 shares of the company’s stock worth $2,818,000 after purchasing an additional 532 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in shares of JFrog by 1.2% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 45,767 shares of the company’s stock worth $1,584,000 after purchasing an additional 535 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of JFrog in the 1st quarter worth about $26,000. Advisors Asset Management Inc. boosted its holdings in shares of JFrog by 33.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after buying an additional 662 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in JFrog by 6.0% during the first quarter. Lazard Asset Management LLC now owns 15,549 shares of the company’s stock valued at $686,000 after buying an additional 879 shares during the period. 85.02% of the stock is owned by institutional investors.

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.