Point72 Asset Management L.P. Purchases Shares of 223,346 JFrog Ltd. (NASDAQ:FROG)

Point72 Asset Management L.P. purchased a new position in shares of JFrog Ltd. (NASDAQ:FROG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 223,346 shares of the company’s stock, valued at approximately $6,486,000. Point72 Asset Management L.P. owned approximately 0.22% of JFrog at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in JFrog during the second quarter worth about $187,000. Diversified Trust Co bought a new stake in shares of JFrog during the 2nd quarter worth approximately $604,000. Assenagon Asset Management S.A. acquired a new stake in shares of JFrog in the 2nd quarter valued at approximately $6,576,000. Raymond James & Associates grew its stake in shares of JFrog by 27.4% in the second quarter. Raymond James & Associates now owns 168,326 shares of the company’s stock valued at $6,321,000 after buying an additional 36,205 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in JFrog by 22.3% during the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after buying an additional 561,897 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on FROG shares. Scotiabank increased their price target on shares of JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Truist Financial reiterated a “buy” rating and set a $35.00 price target (up previously from $33.00) on shares of JFrog in a report on Friday, November 8th. DA Davidson restated a “buy” rating and issued a $40.00 price objective on shares of JFrog in a research note on Monday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of JFrog in a research note on Tuesday, October 29th. Finally, UBS Group boosted their target price on JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, November 8th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Insider Activity

In related news, CFO Eduard Grabscheid sold 834 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $30.60, for a total transaction of $25,520.40. Following the transaction, the chief financial officer now directly owns 97,260 shares of the company’s stock, valued at $2,976,156. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the transaction, the chief executive officer now directly owns 4,975,229 shares in the company, valued at $149,256,870. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,478 shares of company stock valued at $5,407,856. Company insiders own 15.70% of the company’s stock.

JFrog Stock Performance

Shares of NASDAQ:FROG opened at $31.23 on Monday. The firm has a market cap of $3.18 billion, a PE ratio of -58.92 and a beta of 0.94. JFrog Ltd. has a 52 week low of $22.91 and a 52 week high of $48.81. The firm’s fifty day moving average is $30.32 and its 200-day moving average is $31.45.

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.