Truist Financial Reaffirms Buy Rating for JFrog (NASDAQ:FROG)

Truist Financial reissued their buy rating on shares of JFrog (NASDAQ:FROG) in a research note issued to investors on Friday morning,Benzinga reports. Truist Financial currently has a $35.00 price objective on the stock, up from their previous price objective of $33.00.

A number of other research firms have also recently weighed in on FROG. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of JFrog in a report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday. KeyCorp lifted their target price on shares of JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Stifel Nicolaus decreased their price target on shares of JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Barclays lowered their price objective on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.83.

JFrog Stock Performance

FROG stock opened at $31.10 on Friday. The business has a 50 day simple moving average of $29.14 and a 200-day simple moving average of $32.30. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81.

Insiders Place Their Bets

In related news, CEO Ben Haim Shlomi sold 35,550 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total value of $1,066,500.00. Following the completion of the sale, the chief executive officer now directly owns 4,975,229 shares in the company, valued at approximately $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JFrog news, CRO Tali Notman sold 11,621 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total transaction of $314,464.26. Following the completion of the sale, the executive now owns 547,413 shares in the company, valued at $14,812,995.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the sale, the chief executive officer now owns 4,975,229 shares in the company, valued at approximately $149,256,870. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 126,031 shares of company stock valued at $3,618,247. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in JFrog in the third quarter worth about $29,000. Advisors Asset Management Inc. raised its position in shares of JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after purchasing an additional 662 shares during the period. SG Americas Securities LLC bought a new stake in shares of JFrog in the 2nd quarter worth approximately $187,000. Sanctuary Advisors LLC acquired a new position in JFrog during the 2nd quarter valued at approximately $188,000. Finally, US Bancorp DE grew its stake in JFrog by 13.6% during the 3rd quarter. US Bancorp DE now owns 6,687 shares of the company’s stock worth $194,000 after buying an additional 798 shares during the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

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.