SummitTX Capital L.P. acquired a new stake in shares of JFrog Ltd. (NASDAQ:FROG – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 11,129 shares of the company’s stock, valued at approximately $522,000.
A number of other hedge funds also recently bought and sold shares of FROG. First Trust Advisors LP lifted its stake in JFrog by 85,066.4% in the 1st quarter. First Trust Advisors LP now owns 3,362,370 shares of the company’s stock worth $157,796,000 after purchasing an additional 3,358,422 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of JFrog by 187.4% during the 1st quarter. Wasatch Advisors LP now owns 4,156,033 shares of the company’s stock worth $195,043,000 after purchasing an additional 2,710,167 shares during the last quarter. Whale Rock Capital Management LLC grew its position in shares of JFrog by 82.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 5,297,812 shares of the company’s stock valued at $330,901,000 after purchasing an additional 2,389,415 shares in the last quarter. Invesco Ltd. grew its position in shares of JFrog by 6,868.3% in the fourth quarter. Invesco Ltd. now owns 2,104,071 shares of the company’s stock valued at $131,420,000 after purchasing an additional 2,073,876 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of JFrog in the first quarter valued at approximately $78,872,000. Institutional investors and hedge funds own 85.02% of the company’s stock.
JFrog Stock Performance
FROG stock opened at $79.79 on Friday. JFrog Ltd. has a one year low of $34.05 and a one year high of $99.22. The firm has a market cap of $9.66 billion, a PE ratio of -150.55 and a beta of 1.20. The firm’s 50 day moving average price is $84.05 and its 200-day moving average price is $62.15.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on FROG shares. Needham & Company LLC lifted their price objective on JFrog from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of JFrog in a report on Friday, July 17th. JPMorgan Chase & Co. raised their target price on JFrog from $76.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. KeyCorp reiterated an “overweight” rating on shares of JFrog in a report on Friday. Finally, Bank of America boosted their price target on shares of JFrog from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Twenty-one research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, JFrog has an average rating of “Moderate Buy” and a consensus target price of $88.86.
Read Our Latest Stock Report on FROG
Insider Transactions at JFrog
In related news, Director Frederic Simon sold 120,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $85.84, for a total transaction of $10,300,800.00. Following the completion of the sale, the director directly owned 3,224,328 shares of the company’s stock, valued at approximately $276,776,315.52. This trade represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Yoav Landman sold 150,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $89.99, for a total transaction of $13,498,500.00. Following the completion of the transaction, the chief technology officer directly owned 5,539,038 shares in the company, valued at $498,458,029.62. The trade was a 2.64% 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. In the last ninety days, insiders sold 963,649 shares of company stock worth $77,654,577. 11.80% of the stock is currently owned by company insiders.
JFrog Profile
JFrog is a software company specializing in DevOps solutions designed to streamline the management, distribution and security of software binaries. Its core offering, JFrog Artifactory, serves as a universal artifact repository manager compatible with all major package formats, enabling development teams to store, version and share build artifacts across the software delivery pipeline. The company’s platform also includes tools for continuous integration and delivery (CI/CD), security scanning and release automation.
Among JFrog’s flagship products are JFrog Xray, a security and compliance scanning service that analyzes artifacts and dependencies for vulnerabilities; JFrog Pipelines, a CI/CD orchestration engine that automates build and release workflows; and JFrog Distribution, which accelerates the secure distribution of software releases to edge nodes and end users.
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