Arizona State Retirement System Buys 682 Shares of JFrog Ltd. (NASDAQ:FROG)

Arizona State Retirement System boosted its stake in shares of JFrog Ltd. (NASDAQ:FROG) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,218 shares of the company’s stock after purchasing an additional 682 shares during the period. Arizona State Retirement System’s holdings in JFrog were worth $800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. abrdn plc increased its position in JFrog by 4.1% during the 4th quarter. abrdn plc now owns 772,202 shares of the company’s stock valued at $22,784,000 after buying an additional 30,392 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in JFrog by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock valued at $43,817,000 after purchasing an additional 159,483 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in JFrog by 11.9% during the 4th quarter. Peregrine Capital Management LLC now owns 327,835 shares of the company’s stock valued at $9,642,000 after purchasing an additional 34,900 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in JFrog by 12.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after purchasing an additional 365,376 shares during the last quarter. Finally, North Peak Capital Management LLC purchased a new stake in JFrog during the 3rd quarter valued at $73,417,000. Institutional investors own 85.02% of the company’s stock.

JFrog Stock Performance

Shares of JFrog stock opened at $32.47 on Friday. JFrog Ltd. has a one year low of $22.91 and a one year high of $46.65. The stock’s fifty day moving average is $35.17 and its 200 day moving average is $31.61. The stock has a market cap of $3.31 billion, a P/E ratio of -51.54 and a beta of 0.95.

JFrog (NASDAQ:FROG) last announced its earnings results on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). JFrog had a negative return on equity of 6.42% and a negative net margin of 16.16%. The company had revenue of $116.08 million during the quarter, compared to the consensus estimate of $114.16 million. Analysts predict that JFrog Ltd. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

FROG has been the topic of several recent analyst reports. Truist Financial increased their target price on JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 target price on shares of JFrog in a research note on Wednesday, February 12th. Barclays increased their target price on JFrog from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Needham & Company LLC increased their target price on JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group raised their price target on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.06.

Insider Buying and Selling

In other JFrog news, CFO Eduard Grabscheid sold 11,942 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $42.99, for a total transaction of $513,386.58. Following the sale, the chief financial officer now directly owns 172,406 shares of the company’s stock, valued at $7,411,733.94. This trade represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $31.53, for a total value of $560,445.75. Following the sale, the chief executive officer now directly owns 4,884,584 shares in the company, valued at approximately $154,010,933.52. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 439,104 shares of company stock valued at $15,514,264. 15.70% of the stock is owned by company insiders.

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.