State of New Jersey Common Pension Fund D Boosts Stock Position in JFrog Ltd. (NASDAQ:FROG)

State of New Jersey Common Pension Fund D grew its position in shares of JFrog Ltd. (NASDAQ:FROG) by 31.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,788 shares of the company’s stock after purchasing an additional 19,723 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.08% of JFrog worth $3,109,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Pier Capital LLC grew its holdings in shares of JFrog by 22.2% during the second quarter. Pier Capital LLC now owns 247,901 shares of the company’s stock worth $9,309,000 after purchasing an additional 45,003 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of JFrog by 11.8% during the second quarter. Arizona State Retirement System now owns 25,780 shares of the company’s stock worth $968,000 after purchasing an additional 2,720 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of JFrog during the second quarter worth about $10,446,000. VELA Investment Management LLC grew its holdings in shares of JFrog by 39.2% during the second quarter. VELA Investment Management LLC now owns 78,545 shares of the company’s stock worth $2,949,000 after purchasing an additional 22,118 shares during the last quarter. Finally, TD Asset Management Inc purchased a new position in shares of JFrog during the second quarter worth about $2,230,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen dropped their price objective on JFrog from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler decreased their target price on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Oppenheimer downgraded shares of JFrog from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Bank of America decreased their target price on shares of JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, 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 note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.28.

JFrog Trading Down 0.1 %

FROG stock opened at $28.12 on Wednesday. The firm has a 50 day moving average of $31.26 and a 200-day moving average of $35.59. JFrog Ltd. has a 12-month low of $21.38 and a 12-month high of $48.81. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -59.83 and a beta of 0.93.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The company had revenue of $103.04 million for the quarter, compared to analyst estimates of $103.53 million. Sell-side analysts forecast that JFrog Ltd. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Yoav Landman sold 16,277 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $36.66, for a total transaction of $596,714.82. Following the completion of the transaction, the chief technology officer now directly owns 6,697,242 shares of the company’s stock, valued at approximately $245,520,891.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Tali Notman sold 5,882 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.51, for a total transaction of $220,633.82. Following the completion of the transaction, the executive now directly owns 559,034 shares of the company’s stock, valued at approximately $20,969,365.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Yoav Landman sold 16,277 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $36.66, for a total transaction of $596,714.82. Following the transaction, the chief technology officer now directly owns 6,697,242 shares of the company’s stock, valued at $245,520,891.72. The disclosure for this sale can be found here. In the last three months, insiders sold 218,040 shares of company stock worth $7,238,795. Company insiders own 15.70% of the company’s stock.

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.