Thrivent Financial for Lutherans Cuts Position in JFrog Ltd. (NASDAQ:FROG)

Thrivent Financial for Lutherans cut its stake in JFrog Ltd. (NASDAQ:FROG) by 2.5% in the 4th quarter, Holdings Channel reports. The fund owned 2,316,764 shares of the company’s stock after selling 58,208 shares during the quarter. Thrivent Financial for Lutherans’ holdings in JFrog were worth $68,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC grew its position in JFrog by 8.6% in the fourth quarter. William Blair Investment Management LLC now owns 876,440 shares of the company’s stock worth $25,776,000 after acquiring an additional 69,627 shares in the last quarter. Swiss National Bank boosted its position in JFrog by 2.6% during the fourth quarter. Swiss National Bank now owns 184,600 shares of the company’s stock valued at $5,429,000 after buying an additional 4,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in JFrog by 127.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 528,260 shares of the company’s stock valued at $15,536,000 after buying an additional 296,498 shares during the period. Raymond James Financial Inc. purchased a new stake in JFrog during the fourth quarter valued at about $30,554,000. Finally, Arizona State Retirement System boosted its position in JFrog by 2.6% during the fourth quarter. Arizona State Retirement System now owns 27,218 shares of the company’s stock valued at $800,000 after buying an additional 682 shares during the period. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JFrog

In other JFrog news, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $31.53, for a total transaction of $560,445.75. Following the completion of the transaction, the chief executive officer now owns 4,884,584 shares of the company’s stock, valued at approximately $154,010,933.52. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Tali Notman sold 75,635 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the transaction, the executive now directly owns 582,394 shares of the company’s stock, valued at $20,383,790. This represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 439,104 shares of company stock valued at $15,514,264. Corporate insiders own 15.70% of the company’s stock.

JFrog Price Performance

FROG stock opened at $33.92 on Wednesday. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $46.65. The company has a market cap of $3.46 billion, a P/E ratio of -53.84 and a beta of 0.95. The firm has a 50-day moving average of $35.35 and a 200 day moving average of $31.81.

JFrog (NASDAQ:FROG) last announced its earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The business had revenue of $116.08 million for the quarter, compared to the consensus estimate of $114.16 million. On average, equities research analysts expect that JFrog Ltd. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on FROG shares. Needham & Company LLC upped their price target on shares of JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Canaccord Genuity Group upped their price target on shares of JFrog from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 14th. KeyCorp restated an “overweight” rating and set a $46.00 price target (up from $36.00) on shares of JFrog in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 price objective on shares of JFrog in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price objective on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.06.

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.