JFrog (NASDAQ:FROG) Price Target Raised to $36.00

JFrog (NASDAQ:FROG) had its target price increased by Needham & Company LLC from $33.00 to $36.00 in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group decreased their target price on JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Robert W. Baird boosted their price target on shares of JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson reiterated a “buy” rating and issued a $40.00 price objective on shares of JFrog in a report on Monday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of JFrog in a research note on Tuesday, October 29th. Finally, Baird R W upgraded JFrog to a “strong-buy” rating in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.83.

JFrog Stock Down 5.4 %

Shares of FROG opened at $31.10 on Friday. JFrog has a 52-week low of $22.91 and a 52-week high of $48.81. The business’s 50 day moving average is $29.14 and its two-hundred day moving average is $32.30.

Insider Activity

In other JFrog news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00. Following the transaction, the chief technology officer now directly owns 6,627,242 shares in the company, valued at approximately $185,562,776. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the sale, the chief technology officer now directly owns 6,627,242 shares of the company’s stock, valued at $185,562,776. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Tali Notman sold 11,621 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $314,464.26. Following the completion of the transaction, the executive now directly owns 547,413 shares in the company, valued at approximately $14,812,995.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,031 shares of company stock worth $3,618,247 over the last 90 days. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in JFrog by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock valued at $335,141,000 after purchasing an additional 523,432 shares during the period. Bank of New York Mellon Corp increased its holdings in JFrog by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock valued at $115,791,000 after buying an additional 561,897 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of JFrog by 114.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock valued at $88,133,000 after buying an additional 1,617,551 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of JFrog by 33.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after buying an additional 593,478 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of JFrog by 4.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock worth $76,160,000 after acquiring an additional 73,036 shares during the period. 85.02% of the stock is currently owned by institutional investors and hedge funds.

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.