Granite Investment Partners LLC Has $6.15 Million Stock Position in JFrog Ltd. (NASDAQ:FROG)

Granite Investment Partners LLC boosted its stake in shares of JFrog Ltd. (NASDAQ:FROG) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,703 shares of the company’s stock after purchasing an additional 21,698 shares during the quarter. Granite Investment Partners LLC owned 0.16% of JFrog worth $6,147,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in shares of JFrog by 285.1% in the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock valued at $62,885,000 after buying an additional 1,052,800 shares during the period. Meitav Investment House Ltd. increased its position in shares of JFrog by 4,244.7% during the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after purchasing an additional 856,451 shares during the period. American Century Companies Inc. raised its stake in shares of JFrog by 172.5% in the second quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock valued at $49,943,000 after purchasing an additional 841,956 shares in the last quarter. Principal Financial Group Inc. bought a new position in JFrog in the first quarter worth $35,520,000. Finally, Syon Capital LLC acquired a new stake in JFrog during the fourth quarter worth $22,086,000. 85.02% of the stock is owned by institutional investors.

JFrog Stock Up 0.8 %

Shares of JFrog stock opened at $28.61 on Friday. The business has a fifty day simple moving average of $30.81 and a 200 day simple moving average of $35.38. The stock has a market cap of $2.91 billion, a PE ratio of -60.87 and a beta of 0.93. JFrog Ltd. has a 12 month low of $21.38 and a 12 month high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The company had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. Analysts expect that JFrog Ltd. will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FROG. Baird R W upgraded shares of JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. KeyCorp lifted their price objective on JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Oppenheimer cut JFrog from an “outperform” rating to a “market perform” rating in a report on Thursday, August 8th. Bank of America decreased their price target on JFrog from $54.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Scotiabank cut their price objective on JFrog from $40.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.28.

Insider Activity

In other JFrog news, CTO Yoav Landman sold 16,277 shares of JFrog stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $36.66, for a total transaction of $596,714.82. Following the transaction, the chief technology officer now directly owns 6,697,242 shares in the company, valued at $245,520,891.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at approximately $136,043,960.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Yoav Landman sold 16,277 shares of JFrog stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $36.66, for a total value of $596,714.82. Following the completion of the sale, the chief technology officer now directly owns 6,697,242 shares in the company, valued at approximately $245,520,891.72. The disclosure for this sale can be found here. Insiders sold 218,040 shares of company stock valued at $7,238,795 in the last quarter. Company 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.