Syon Capital LLC Takes $22.09 Million Position in JFrog Ltd. (NASDAQ:FROG)

Syon Capital LLC acquired a new position in JFrog Ltd. (NASDAQ:FROG) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 638,129 shares of the company’s stock, valued at approximately $22,086,000. JFrog makes up about 1.6% of Syon Capital LLC’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in FROG. Cornerstone Investment Partners LLC acquired a new position in JFrog during the fourth quarter valued at approximately $253,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in JFrog by 18.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 454,047 shares of the company’s stock worth $15,715,000 after purchasing an additional 70,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in JFrog by 39.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,805 shares of the company’s stock worth $582,000 after purchasing an additional 4,755 shares during the period. VELA Investment Management LLC lifted its holdings in shares of JFrog by 19.6% during the fourth quarter. VELA Investment Management LLC now owns 56,427 shares of the company’s stock valued at $1,953,000 after acquiring an additional 9,237 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its stake in shares of JFrog by 1.2% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 45,767 shares of the company’s stock valued at $1,584,000 after buying an additional 535 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

FROG has been the subject of a number of research reports. Morgan Stanley lifted their price objective on JFrog from $40.00 to $52.00 in a research report on Thursday, March 7th. Oppenheimer raised their target price on JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. TheStreet upgraded JFrog from a “d+” rating to a “c-” rating in a report on Friday, December 29th. Needham & Company LLC lifted their price objective on JFrog from $40.00 to $55.00 in a report on Thursday, March 7th. Finally, Truist Financial boosted their target price on JFrog from $41.00 to $50.00 in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.46.

Insider Activity at JFrog

In other news, Director Frederic Simon sold 150,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $47.27, for a total value of $7,090,500.00. Following the transaction, the director now directly owns 4,759,432 shares in the company, valued at approximately $224,978,350.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Yossi Sela sold 45,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.87, for a total transaction of $1,929,150.00. Following the sale, the director now directly owns 380,312 shares of the company’s stock, valued at approximately $16,303,975.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederic Simon sold 150,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.27, for a total transaction of $7,090,500.00. Following the completion of the sale, the director now owns 4,759,432 shares of the company’s stock, valued at approximately $224,978,350.64. The disclosure for this sale can be found here. Insiders sold a total of 501,355 shares of company stock valued at $22,340,017 in the last 90 days. Corporate insiders own 30.60% of the company’s stock.

JFrog Price Performance

NASDAQ FROG traded up $1.52 during trading on Friday, reaching $41.99. The company’s stock had a trading volume of 1,228,719 shares, compared to its average volume of 1,217,276. The stock has a market capitalization of $4.28 billion, a PE ratio of -70.42 and a beta of 0.99. The firm has a fifty day moving average of $42.27 and a 200 day moving average of $34.21. JFrog Ltd. has a one year low of $17.11 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. The firm had revenue of $97.26 million for the quarter, compared to analyst estimates of $93.07 million. Research analysts expect that JFrog Ltd. will post -0.21 earnings per share for the current fiscal year.

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.