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

State of New Jersey Common Pension Fund D raised its position in JFrog Ltd. (NASDAQ:FROG) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,857 shares of the company’s stock after purchasing an additional 4,730 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of JFrog worth $3,214,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FROG. Vanguard Group Inc. grew its stake in shares of JFrog by 10.7% in the third quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock valued at $178,344,000 after buying an additional 679,007 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of JFrog by 48.8% in the third quarter. Bank of New York Mellon Corp now owns 3,971,198 shares of the company’s stock valued at $100,710,000 after buying an additional 1,302,699 shares in the last quarter. William Blair Investment Management LLC grew its stake in JFrog by 6.3% during the 3rd quarter. William Blair Investment Management LLC now owns 1,733,639 shares of the company’s stock valued at $43,965,000 after purchasing an additional 102,561 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in JFrog by 243.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,615,282 shares of the company’s stock valued at $40,963,000 after purchasing an additional 1,144,315 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in JFrog by 2.6% during the 3rd quarter. Fiera Capital Corp now owns 1,522,031 shares of the company’s stock valued at $38,599,000 after purchasing an additional 38,227 shares in the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FROG. Oppenheimer raised their price objective on JFrog from $41.00 to $48.00 in a research note on Thursday, March 7th. DA Davidson raised their price objective on JFrog from $45.00 to $55.00 in a research note on Thursday, March 7th. Cantor Fitzgerald lifted their target price on JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. KeyCorp started coverage on JFrog in a research report on Tuesday, March 19th. They issued an “overweight” rating and a $52.00 target price for the company. Finally, Needham & Company LLC lifted their target price on JFrog from $40.00 to $55.00 in a research report on Thursday, March 7th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.46.

JFrog Stock Performance

JFrog stock opened at $41.99 on Friday. The company has a 50-day simple moving average of $42.22 and a 200-day simple moving average of $34.41. JFrog Ltd. has a one year low of $17.11 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $97.26 million during the quarter, compared to analyst estimates of $93.07 million. JFrog had a negative net margin of 17.51% and a negative return on equity of 6.01%. On average, research analysts predict that JFrog Ltd. will post -0.21 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the completion of the transaction, the director now owns 4,654,432 shares in the company, valued at $181,383,215.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total value of $1,363,950.00. Following the completion of the transaction, the director now owns 4,654,432 shares in the company, valued at approximately $181,383,215.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Yoav Landman sold 110,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the completion of the transaction, the chief technology officer now owns 6,811,371 shares of the company’s stock, valued at approximately $322,041,620.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,355 shares of company stock worth $22,340,017. Insiders own 30.60% 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.