SummitTX Capital L.P. acquired a new stake in JFrog Ltd. (NASDAQ:FROG – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,129 shares of the company’s stock, valued at approximately $522,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in JFrog by 48.4% during the 1st quarter. Royal Bank of Canada now owns 189,148 shares of the company’s stock valued at $6,053,000 after acquiring an additional 61,685 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in JFrog during the first quarter worth about $205,000. AQR Capital Management LLC acquired a new stake in shares of JFrog during the first quarter worth about $368,000. Integrated Wealth Concepts LLC acquired a new stake in shares of JFrog during the first quarter worth about $203,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of JFrog by 14.7% in the first quarter. Goldman Sachs Group Inc. now owns 692,909 shares of the company’s stock valued at $22,173,000 after purchasing an additional 88,784 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.
JFrog Stock Performance
FROG 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 company has a market cap of $9.66 billion, a P/E ratio of -150.55 and a beta of 1.20. The business’s 50-day simple moving average is $84.05 and its 200-day simple moving average is $62.15.
Insider Activity at JFrog
In other news, CTO Yoav Landman sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $87.23, for a total transaction of $3,925,350.00. Following the completion of the sale, the chief technology officer owned 5,493,338 shares in the company, valued at approximately $479,183,873.74. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Zwarenstein sold 1,250 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $80.10, for a total transaction of $100,125.00. Following the completion of the transaction, the director owned 31,687 shares of the company’s stock, valued at approximately $2,538,128.70. The trade was a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 963,649 shares of company stock valued at $77,654,577 in the last quarter. Company insiders own 11.80% of the company’s stock.
Analysts Set New Price Targets
FROG has been the subject of a number of research reports. Bank of America lifted their price objective on shares of JFrog from $85.00 to $100.00 and gave the company a “buy” rating in a report on Monday, June 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of JFrog in a research report on Monday, June 15th. Truist Financial boosted their price target on shares of JFrog from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Barclays upped their price objective on JFrog from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, Stifel Nicolaus increased their price objective on JFrog from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Twenty-one equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and an average target price of $88.86.
Get Our Latest Stock Analysis on FROG
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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