Pier Capital LLC Boosts Stake in JFrog Ltd. (NASDAQ:FROG)

Pier Capital LLC increased its stake in shares of JFrog Ltd. (NASDAQ:FROG) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,713 shares of the company’s stock after buying an additional 53,125 shares during the quarter. JFrog comprises approximately 1.5% of Pier Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Pier Capital LLC owned 0.34% of JFrog worth $10,256,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. abrdn plc raised its position in JFrog by 4.1% during the 4th quarter. abrdn plc now owns 772,202 shares of the company’s stock worth $22,784,000 after buying an additional 30,392 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of JFrog by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock worth $43,817,000 after purchasing an additional 159,483 shares during the last quarter. Peregrine Capital Management LLC lifted its position in JFrog by 11.9% during the fourth quarter. Peregrine Capital Management LLC now owns 327,835 shares of the company’s stock valued at $9,642,000 after purchasing an additional 34,900 shares during the period. TimesSquare Capital Management LLC boosted its holdings in JFrog by 12.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after purchasing an additional 365,376 shares during the last quarter. Finally, North Peak Capital Management LLC acquired a new stake in JFrog during the 3rd quarter worth about $73,417,000. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Price Performance

NASDAQ FROG opened at $34.64 on Tuesday. The stock’s 50 day simple moving average is $35.57 and its 200-day simple moving average is $31.99. The company has a market cap of $3.53 billion, a PE ratio of -54.98 and a beta of 0.95. JFrog Ltd. has a 1-year low of $22.91 and a 1-year high of $45.94.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data 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). JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The firm had revenue of $116.08 million during the quarter, compared to analysts’ expectations of $114.16 million. On average, equities research analysts anticipate that JFrog Ltd. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other JFrog news, Director Yossi Sela sold 14,300 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.52, for a total value of $579,436.00. Following the completion of the sale, the director now directly owns 306,277 shares of the company’s stock, valued at $12,410,344.04. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $33.48, for a total transaction of $1,171,800.00. Following the transaction, the director now directly owns 4,374,432 shares in the company, valued at approximately $146,455,983.36. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 439,104 shares of company stock worth $15,514,264. 15.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FROG shares. Needham & Company LLC upped their target price on JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 price objective on shares of JFrog in a research note on Wednesday, February 12th. KeyCorp reaffirmed an “overweight” rating and set a $46.00 target price (up from $36.00) on shares of JFrog in a report on Friday, February 14th. Canaccord Genuity Group increased their price target on shares of JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus lifted their price objective on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.06.

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.