Probity Advisors Inc. Invests $222,000 in JFrog Ltd. (NASDAQ:FROG)

Probity Advisors Inc. bought a new position in shares of JFrog Ltd. (NASDAQ:FROG) during the fourth quarter, Holdings Channel reports. The fund bought 7,551 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in JFrog during the fourth quarter valued at $32,878,000. Raymond James Financial Inc. acquired a new position in JFrog during the fourth quarter valued at $30,554,000. Mackenzie Financial Corp raised its position in JFrog by 93.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company’s stock valued at $58,703,000 after buying an additional 965,912 shares during the period. Champlain Investment Partners LLC raised its position in JFrog by 48.4% during the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock valued at $71,961,000 after buying an additional 797,949 shares during the period. Finally, Bamco Inc. NY acquired a new position in JFrog during the fourth quarter valued at $21,322,000. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Stock Performance

FROG opened at $43.10 on Wednesday. The company has a market cap of $4.94 billion, a PE ratio of -68.41 and a beta of 0.97. The stock has a 50-day moving average of $34.86 and a 200-day moving average of $33.83. JFrog Ltd. has a 52-week low of $22.91 and a 52-week high of $43.79.

JFrog (NASDAQ:FROG) last announced its earnings results on Thursday, May 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $122.41 million during the quarter, compared to the consensus estimate of $117.44 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, research analysts predict that JFrog Ltd. will post -0.33 earnings per share for the current year.

Insider Activity at JFrog

In related news, CRO Tali Notman sold 16,548 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.55, for a total transaction of $604,829.40. Following the completion of the sale, the executive now owns 744,903 shares in the company, valued at $27,226,204.65. This represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ben Haim Shlomi sold 41,829 shares of the 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 sale, the chief executive officer now owns 4,982,254 shares of the company’s stock, valued at approximately $182,101,383.70. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 212,548 shares of company stock worth $7,167,041 in the last 90 days. 14.10% of the stock is owned by company insiders.

Analyst Ratings Changes

FROG has been the topic of several recent analyst reports. DA Davidson upped their price target on JFrog from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Raymond James assumed coverage on JFrog in a research note on Friday, April 11th. They issued an “outperform” rating and a $40.00 target price on the stock. Barclays lowered their target price on JFrog from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus boosted their target price on JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Truist Financial boosted their target price on 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.44.

About JFrog

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.