Penn Capital Management Company LLC Sells 5,635 Shares of JFrog Ltd. $FROG

Penn Capital Management Company LLC lessened its position in JFrog Ltd. (NASDAQ:FROG) by 21.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,772 shares of the company’s stock after selling 5,635 shares during the quarter. Penn Capital Management Company LLC’s holdings in JFrog were worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in JFrog by 83.1% during 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. IFP Advisors Inc increased its position in shares of JFrog by 4.7% during the 2nd quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $625,000 after purchasing an additional 309 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of JFrog during the 1st quarter valued at about $30,000. Moody National Bank Trust Division increased its position in shares of JFrog by 7.9% during the 3rd quarter. Moody National Bank Trust Division now owns 9,768 shares of the company’s stock valued at $948,000 after purchasing an additional 718 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of JFrog during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Stock Up 7.1%

Shares of FROG opened at $108.18 on Tuesday. The stock has a market capitalization of $13.34 billion, a P/E ratio of -601.00 and a beta of 1.31. JFrog Ltd. has a twelve month low of $34.05 and a twelve month high of $108.59. The firm has a fifty day simple moving average of $93.61 and a two-hundred day simple moving average of $72.85.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $179.17 million for the quarter, compared to analysts’ expectations of $165.92 million. JFrog had a negative net margin of 7.35% and a negative return on equity of 2.71%. 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 earned $0.22 earnings per share. Sell-side analysts expect that JFrog Ltd. will post -0.11 EPS for the current fiscal year.

Insider Activity at JFrog

In other news, CRO Tali Notman sold 18,794 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $86.98, for a total transaction of $1,634,702.12. Following the transaction, the executive directly owned 668,678 shares of the company’s stock, valued at approximately $58,161,612.44. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Shlomi Ben Haim sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $97.52, for a total value of $1,462,800.00. Following the transaction, the chief executive officer 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 900,453 shares of company stock valued at $85,299,266 in the last quarter. 11.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $115.00 target price on shares of JFrog in a research report on Wednesday, November 4th. UBS Group set a $115.00 target price on JFrog in a research note on Friday, October 23rd. TD Cowen reiterated a “buy” rating and set a $120.00 price target on shares of JFrog in a research report on Thursday, September 3rd. Raymond James Financial set a $120.00 price target on shares of JFrog in a research note on Friday, August 7th. Finally, Guggenheim boosted their price objective on shares of JFrog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. Twenty-one equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, JFrog presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.43.

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.