JPMorgan Chase & Co. Grows Stock Position in JFrog Ltd. (NASDAQ:FROG)

JPMorgan Chase & Co. boosted its holdings in JFrog Ltd. (NASDAQ:FROG) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,508,852 shares of the company’s stock after buying an additional 159,483 shares during the period. JPMorgan Chase & Co. owned 1.48% of JFrog worth $43,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FROG. Van ECK Associates Corp boosted its position in shares of JFrog by 18.4% in the second quarter. Van ECK Associates Corp now owns 36,652 shares of the company’s stock worth $1,376,000 after acquiring an additional 5,686 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of JFrog in the 2nd quarter valued at $2,230,000. Victory Capital Management Inc. purchased a new stake in shares of JFrog during the 2nd quarter valued at $10,446,000. Arizona State Retirement System increased its holdings in shares of JFrog by 11.8% during the 2nd quarter. Arizona State Retirement System now owns 25,780 shares of the company’s stock worth $968,000 after buying an additional 2,720 shares during the last quarter. Finally, Pier Capital LLC raised its position in shares of JFrog by 22.2% in the 2nd quarter. Pier Capital LLC now owns 247,901 shares of the company’s stock worth $9,309,000 after buying an additional 45,003 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FROG. Scotiabank boosted their price target on JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. TD Cowen lifted their price objective on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp increased their target price on shares of JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Needham & Company LLC lifted their price target on shares of JFrog from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Truist Financial reiterated a “buy” rating and set a $35.00 price objective (up from $33.00) on shares of JFrog in a research note on Friday, November 8th. Three 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

Insider Buying and Selling at JFrog

In related news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $30.86, for a total transaction of $1,080,100.00. Following the transaction, the director now directly owns 4,514,432 shares in the company, valued at $139,315,371.52. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eduard Grabscheid sold 834 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.60, for a total transaction of $25,520.40. Following the completion of the transaction, the chief financial officer now owns 97,260 shares in the company, valued at approximately $2,976,156. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,921 shares of company stock worth $7,927,309 in the last 90 days. 15.70% of the stock is owned by corporate insiders.

JFrog Stock Performance

Shares of NASDAQ FROG opened at $30.59 on Monday. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $48.81. The stock’s 50-day simple moving average is $30.67 and its 200-day simple moving average is $31.08. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -57.72 and a beta of 0.94.

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.