ARK Investment Management LLC Raises Stock Position in JFrog Ltd. (NASDAQ:FROG)

ARK Investment Management LLC lifted its position in shares of JFrog Ltd. (NASDAQ:FROG) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,713 shares of the company’s stock after acquiring an additional 5,450 shares during the quarter. ARK Investment Management LLC owned 0.06% of JFrog worth $1,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FROG. North Peak Capital Management LLC purchased a new position in shares of JFrog in the third quarter valued at $73,417,000. TimesSquare Capital Management LLC grew its stake in 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 acquiring an additional 1,617,551 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in JFrog during the 3rd quarter valued at about $32,401,000. Thrivent Financial for Lutherans raised its position in JFrog by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock worth $68,969,000 after acquiring an additional 593,478 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of JFrog by 55.8% in the third quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after purchasing an additional 514,895 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

Insider Transactions at JFrog

In related news, Director Yossi Sela sold 25,000 shares of JFrog stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $31.86, for a total transaction of $796,500.00. Following the transaction, the director now owns 355,129 shares in the company, valued at approximately $11,314,409.94. The trade was a 6.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eduard Grabscheid sold 834 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $30.60, for a total transaction of $25,520.40. Following the sale, the chief financial officer now directly owns 97,260 shares of the company’s stock, valued at approximately $2,976,156. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 437,580 shares of company stock worth $14,803,200. 15.70% of the stock is currently owned by company insiders.

JFrog Stock Up 1.7 %

Shares of FROG opened at $37.43 on Thursday. JFrog Ltd. has a fifty-two week low of $22.91 and a fifty-two week high of $46.65. The company’s fifty day moving average is $34.12 and its two-hundred day moving average is $31.00. The firm has a market cap of $3.81 billion, a PE ratio of -59.41 and a beta of 0.97.

JFrog (NASDAQ:FROG) last issued its earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). The firm had revenue of $116.08 million during the quarter, compared to analyst estimates of $114.16 million. JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. As a group, equities research analysts anticipate that JFrog Ltd. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus raised their price target on JFrog from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price objective on shares of JFrog in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their price objective on JFrog from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Barclays boosted their target price on shares of JFrog from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Three equities research 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 company’s stock. According to MarketBeat, JFrog currently has an average rating of “Moderate Buy” and an average price target of $42.17.

JFrog Company 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.