Point72 Asset Management L.P. Takes Position in JFrog Ltd. (NASDAQ:FROG)

Point72 Asset Management L.P. purchased a new position in shares of JFrog Ltd. (NASDAQ:FROG - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 223,346 shares of the company's stock, valued at approximately $6,486,000. Point72 Asset Management L.P. owned 0.22% of JFrog as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Praesidium Investment Management Company LLC grew its holdings in JFrog by 34.7% during the third quarter. Praesidium Investment Management Company LLC now owns 1,581,670 shares of the company's stock worth $45,932,000 after acquiring an additional 407,492 shares during the period. Atom Investors LP grew its stake in shares of JFrog by 57.0% during the 3rd quarter. Atom Investors LP now owns 66,449 shares of the company's stock worth $1,930,000 after purchasing an additional 24,120 shares during the period. Wasatch Advisors LP grew its stake in shares of JFrog by 6.2% during the 3rd quarter. Wasatch Advisors LP now owns 2,140,884 shares of the company's stock worth $62,171,000 after purchasing an additional 124,420 shares during the period. Scopia Capital Management LP purchased a new position in shares of JFrog in the 3rd quarter valued at about $12,920,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of JFrog by 13.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,848 shares of the company's stock valued at $809,000 after purchasing an additional 3,235 shares during the period. 85.02% of the stock is owned by hedge funds and other institutional investors.

JFrog Price Performance

FROG traded down $0.20 during trading on Monday, hitting $31.03. The company's stock had a trading volume of 479,071 shares, compared to its average volume of 1,242,496. JFrog Ltd. has a twelve month low of $22.91 and a twelve month high of $48.81. The firm's 50 day moving average price is $30.32 and its 200-day moving average price is $31.43. The stock has a market cap of $3.16 billion, a PE ratio of -58.92 and a beta of 0.94.

Insider Activity at JFrog

In other news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $28.00, for a total value of $420,000.00. Following the transaction, the chief technology officer now directly owns 6,627,242 shares of the company's stock, valued at $185,562,776. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ben Haim Shlomi sold 17,775 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $31.93, for a total transaction of $567,555.75. Following the sale, the chief executive officer now directly owns 4,957,454 shares of the company's stock, valued at approximately $158,291,506.22. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,478 shares of company stock worth $5,407,856. 15.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FROG has been the subject of a number of research analyst reports. Baird R W raised shares of JFrog to a "strong-buy" rating in a report on Tuesday, August 27th. DA Davidson reaffirmed a "buy" rating and issued a $40.00 price objective on shares of JFrog in a research note on Monday, October 14th. UBS Group lifted their price objective on JFrog from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Barclays lowered their target price on JFrog from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Finally, Scotiabank lifted their price target on JFrog from $25.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Friday, November 8th. Three research 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 data from MarketBeat, JFrog currently has an average rating of "Moderate Buy" and a consensus target price of $37.72.

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.