Cornercap Investment Counsel Inc. Sells 13,499 Shares of JFrog Ltd. (NASDAQ:FROG)

Cornercap Investment Counsel Inc. reduced its stake in JFrog Ltd. (NASDAQ:FROG) by 52.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,076 shares of the company’s stock after selling 13,499 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in JFrog were worth $351,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in JFrog by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after purchasing an additional 523,432 shares during the period. Bank of New York Mellon Corp increased its stake in JFrog by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after buying an additional 561,897 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in JFrog by 114.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after buying an additional 1,617,551 shares in the last quarter. Renaissance Technologies LLC increased its stake in JFrog by 17.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock worth $62,904,000 after buying an additional 254,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in JFrog by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock worth $62,636,000 after buying an additional 41,275 shares in the last quarter. 85.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Baird R W upgraded JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Canaccord Genuity Group cut their price objective on JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price objective on shares of JFrog in a research report on Tuesday, October 29th. Barclays cut their price objective on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, KeyCorp raised their price objective on JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

JFrog Price Performance

Shares of NASDAQ FROG opened at $30.72 on Monday. The company has a market cap of $3.13 billion, a P/E ratio of -57.96 and a beta of 0.93. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $48.81. The firm has a 50-day simple moving average of $29.47 and a two-hundred day simple moving average of $31.96.

Insiders Place Their Bets

In other news, CRO Tali Notman sold 10,699 shares of JFrog stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.29, for a total transaction of $302,674.71. Following the completion of the sale, the executive now owns 536,714 shares of the company’s stock, valued at approximately $15,183,639.06. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 20,606 shares of JFrog stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total transaction of $557,598.36. Following the sale, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,806 shares of company stock valued at $4,185,802 over the last 90 days. Insiders own 15.70% of the company’s stock.

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.