Atreides Management LP increased its holdings in JFrog Ltd. (NASDAQ:FROG – Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,276 shares of the company’s stock after buying an additional 7,032 shares during the period. Atreides Management LP owned 0.34% of JFrog worth $25,251,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada increased its stake in JFrog by 48.4% in the first 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 last quarter. Cubist Systematic Strategies LLC bought a new position in JFrog in the first quarter valued at approximately $205,000. AQR Capital Management LLC bought a new position in JFrog in the first quarter valued at approximately $368,000. Integrated Wealth Concepts LLC bought a new position in JFrog in the first quarter valued at approximately $203,000. Finally, Goldman Sachs Group Inc. increased its stake in 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 acquiring an additional 88,784 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors and hedge funds.
JFrog Stock Performance
NASDAQ FROG opened at $81.35 on Thursday. The firm’s fifty day moving average price is $63.71 and its two-hundred day moving average price is $57.18. The stock has a market cap of $9.85 billion, a PE ratio of -153.49 and a beta of 1.23. JFrog Ltd. has a fifty-two week low of $34.05 and a fifty-two week high of $89.16.
Insider Activity
In related news, CRO Tali Notman sold 22,015 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $83.95, for a total value of $1,848,159.25. Following the sale, the executive owned 706,629 shares of the company’s stock, valued at $59,321,504.55. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederic Simon sold 120,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $276,776,315.52. This represents a 3.59% 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 quarter, insiders have sold 805,700 shares of company stock valued at $58,486,362. 11.80% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on FROG shares. Needham & Company LLC lifted their price objective on shares of JFrog from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of JFrog from $68.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. William Blair reissued an “outperform” rating on shares of JFrog in a research note on Monday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of JFrog in a research note on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of JFrog from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Twenty 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.45.
Read Our Latest Research Report on FROG
JFrog Company 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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