Pier Capital LLC Buys 45,003 Shares of JFrog Ltd. (NASDAQ:FROG)

Pier Capital LLC increased its stake in JFrog Ltd. (NASDAQ:FROG) by 22.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,901 shares of the company’s stock after purchasing an additional 45,003 shares during the period. JFrog accounts for 1.4% of Pier Capital LLC’s portfolio, making the stock its 15th largest holding. Pier Capital LLC owned about 0.24% of JFrog worth $9,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of FROG. Assenagon Asset Management S.A. acquired a new position in JFrog during the 2nd quarter valued at about $6,576,000. Quadrature Capital Ltd bought a new position in JFrog in the fourth quarter valued at approximately $2,206,000. Russell Investments Group Ltd. boosted its stake in JFrog by 394.2% in the first 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 during the last quarter. Syon Capital LLC acquired a new stake in JFrog during the 4th quarter worth $22,086,000. Finally, Thornburg Investment Management Inc. bought a new stake in shares of JFrog during the 1st quarter valued at $5,337,000. Institutional investors and hedge funds own 85.02% of the company’s stock.

Insider Transactions at JFrog

In related news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total value of $1,356,250.00. Following the sale, the director now owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total value of $1,356,250.00. Following the completion of the sale, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ben Haim Shlomi sold 16,714 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.21, for a total transaction of $471,501.94. Following the transaction, the chief executive officer now owns 5,010,779 shares in the company, valued at $141,354,075.59. The disclosure for this sale can be found here. Insiders sold a total of 227,089 shares of company stock worth $7,696,163 in the last three months. Insiders own 15.70% of the company’s stock.

JFrog Stock Performance

NASDAQ FROG opened at $27.78 on Wednesday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -59.11 and a beta of 0.94. The stock’s 50 day moving average price is $32.06 and its two-hundred day moving average price is $36.18. JFrog Ltd. has a 52 week low of $21.38 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The business had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 million. On average, equities research analysts forecast that JFrog Ltd. will post -0.28 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on FROG. Piper Sandler decreased their price objective on JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. UBS Group decreased their target price on JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Robert W. Baird began coverage on shares of JFrog in a research report on Tuesday, August 27th. They issued an “outperform” rating and a $32.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Bank of America cut their target price on shares of JFrog from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.00.

JFrog 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.