Massachusetts Financial Services Co. MA Takes $32.40 Million Position in JFrog Ltd. (NASDAQ:FROG)

Massachusetts Financial Services Co. MA acquired a new stake in shares of JFrog Ltd. (NASDAQ:FROG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,115,748 shares of the company’s stock, valued at approximately $32,401,000. Massachusetts Financial Services Co. MA owned about 1.10% of JFrog at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FROG. Future Financial Wealth Managment LLC purchased a new stake in shares of JFrog during the 3rd quarter valued at $29,000. Advisors Asset Management Inc. lifted its holdings in shares of JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of JFrog during the 2nd quarter valued at $187,000. Sanctuary Advisors LLC purchased a new stake in shares of JFrog during the 2nd quarter valued at $188,000. Finally, US Bancorp DE raised its stake in JFrog by 13.6% in the 3rd quarter. US Bancorp DE now owns 6,687 shares of the company’s stock worth $194,000 after acquiring an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ben Haim Shlomi sold 35,550 shares of JFrog stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the sale, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at approximately $149,256,870. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic Simon sold 35,000 shares of JFrog 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 sale, the director now directly owns 4,514,432 shares of the company’s stock, valued at approximately $139,315,371.52. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,153 shares of company stock worth $5,276,489. Company insiders own 15.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FROG. Barclays reduced their target price on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 target price on shares of JFrog in a research note on Tuesday, October 29th. Morgan Stanley reduced their target price on JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Truist Financial restated a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of JFrog in a research note on Friday, November 8th. Finally, DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of JFrog in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.72.

JFrog Price Performance

FROG opened at $32.03 on Tuesday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -60.43 and a beta of 0.93. The business has a fifty day moving average price of $29.85 and a 200 day moving average price of $31.56. JFrog Ltd. has a 12 month low of $22.91 and a 12 month high of $48.81.

JFrog Profile

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.