Illinois Municipal Retirement Fund Purchases 30,912 Shares of JFrog Ltd. $FROG

Illinois Municipal Retirement Fund acquired a new stake in shares of JFrog Ltd. (NASDAQ:FROG) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 30,912 shares of the company’s stock, valued at approximately $3,000,000.

A number of other institutional investors have also recently made changes to their positions in FROG. Allworth Financial LP increased its holdings in shares of JFrog by 83.1% in the second quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $59,000 after purchasing an additional 294 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of JFrog in the first quarter worth about $30,000. Bessemer Group Inc. purchased a new stake in shares of JFrog in the first quarter worth about $36,000. GK Wealth Management LLC bought a new position in JFrog during the third quarter valued at approximately $74,000. Finally, GAMMA Investing LLC boosted its stake in JFrog by 418.1% during the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock valued at $97,000 after buying an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on JFrog from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday. KeyCorp upped their price objective on JFrog from $114.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Stifel Nicolaus set a $102.00 target price on JFrog in a research report on Friday, September 4th. BTIG Research reissued a “buy” rating and issued a $115.00 target price on shares of JFrog in a report on Friday, September 4th. Finally, Royal Bank Of Canada boosted their price target on shares of JFrog from $118.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.10.

Insider Transactions at JFrog

In related news, CTO Yoav Landman sold 45,000 shares of JFrog stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $97.27, for a total transaction of $4,377,150.00. Following the completion of the transaction, the chief technology officer directly owned 5,109,038 shares of the company’s stock, valued at approximately $496,956,126.26. The trade was a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Shlomi Ben Haim sold 15,000 shares of JFrog stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $97.52, for a total transaction of $1,462,800.00. Following the transaction, the chief executive officer directly owned 4,434,305 shares of the company’s stock, valued at approximately $432,433,423.60. This represents a 0.34% 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. In the last ninety days, insiders have sold 735,453 shares of company stock worth $70,307,366. 11.80% of the stock is currently owned by insiders.

JFrog Stock Performance

FROG stock traded up $3.00 during midday trading on Friday, reaching $113.60. 2,276,995 shares of the company traded hands, compared to its average volume of 2,392,486. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of -631.11 and a beta of 1.31. JFrog Ltd. has a 52-week low of $34.05 and a 52-week high of $114.44. The business has a 50 day moving average of $94.87 and a 200-day moving average of $73.87.

JFrog (NASDAQ:FROG) last released its earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $179.17 million for the quarter, compared to the consensus estimate of $165.92 million. JFrog had a negative return on equity of 1.55% and a negative net margin of 3.29%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. Research analysts anticipate that JFrog Ltd. will post -0.09 earnings per share for the current year.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment. Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.