Needham & Company LLC Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

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

A number of other analysts have also issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus decreased their price target on JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Baird R W upgraded JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Scotiabank decreased their target price on JFrog from $40.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, KeyCorp upped their price target on JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.72.

JFrog Stock Down 0.6 %

Shares of NASDAQ FROG opened at $30.91 on Friday. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $48.81. The business has a 50 day moving average price of $29.20 and a two-hundred day moving average price of $32.23. The firm has a market cap of $3.15 billion, a PE ratio of -58.32 and a beta of 0.93.

Insiders Place Their Bets

In related news, CRO Tali Notman sold 11,621 shares of JFrog stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total transaction of $314,464.26. Following the sale, the executive now directly owns 547,413 shares in the company, valued at $14,812,995.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Tali Notman sold 11,621 shares of JFrog stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $314,464.26. Following the transaction, the executive now owns 547,413 shares of the company’s stock, valued at $14,812,995.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $462,750.00. Following the completion of the transaction, the chief technology officer now owns 6,612,242 shares in the company, valued at approximately $203,987,665.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,031 shares of company stock worth $3,618,247. 15.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On JFrog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in JFrog during the second quarter valued at $6,576,000. Russell Investments Group Ltd. grew its stake in JFrog by 394.2% during the 1st quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock valued at $1,268,000 after acquiring an additional 22,864 shares in the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of JFrog in the 1st quarter valued at about $5,337,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of JFrog by 30.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock worth $25,963,000 after purchasing an additional 210,000 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of JFrog by 86.8% during the first quarter. Quadrature Capital Ltd now owns 119,025 shares of the company’s stock worth $5,263,000 after purchasing an additional 55,296 shares during the period. Institutional investors and hedge funds own 85.02% 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.