Moody National Bank Trust Division Buys New Position in JFrog Ltd. $FROG

Moody National Bank Trust Division bought a new stake in JFrog Ltd. (NASDAQ:FROG) during the second quarter, HoldingsChannel.com reports. The fund bought 9,050 shares of the company’s stock, valued at approximately $822,000.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in shares of JFrog during the fourth quarter worth about $30,000. Millstone Evans Group LLC lifted its stake in shares of JFrog by 242.6% during the first quarter. Millstone Evans Group LLC now owns 603 shares of the company’s stock valued at $28,000 after buying an additional 427 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of JFrog by 318.7% during the fourth quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock valued at $39,000 after buying an additional 478 shares during the period. Western Wealth Management LLC acquired a new stake in JFrog during the first quarter worth approximately $30,000. Finally, Employees Retirement System of Texas acquired a new stake in JFrog during the fourth quarter worth approximately $44,000. 85.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FROG has been the subject of several analyst reports. Canaccord Genuity Group boosted their price target on JFrog from $78.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup restated a “buy” rating on shares of JFrog in a report on Monday, June 8th. Truist Financial lifted their price objective on JFrog from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. DA Davidson set a $90.00 target price on JFrog in a research note on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of JFrog in a research report on Wednesday, July 22nd. Twenty-one analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.19.

JFrog Stock Performance

Shares of FROG stock opened at $84.52 on Thursday. JFrog Ltd. has a one year low of $34.05 and a one year high of $99.22. The company has a 50 day moving average price of $84.75 and a 200 day moving average price of $62.74. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of -159.47 and a beta of 1.22.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $153.98 million for the quarter, compared to the consensus estimate of $147.45 million. JFrog had a negative net margin of 10.93% and a negative return on equity of 4.61%. JFrog’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, equities analysts forecast that JFrog Ltd. will post -0.15 EPS for the current fiscal year.

Insider Activity at JFrog

In related news, CFO Eduard Grabscheid sold 5,654 shares of JFrog stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $84.69, for a total value of $478,837.26. Following the transaction, the chief financial officer owned 209,658 shares in the company, valued at approximately $17,755,936.02. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director Barry Zwarenstein sold 1,250 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,538,128.70. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 938,649 shares of company stock worth $76,347,827. 11.80% of the stock is owned by corporate insiders.

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.