Massachusetts Financial Services Co. MA Takes Position in JFrog Ltd. (NASDAQ:FROG)

Massachusetts Financial Services Co. MA bought a new stake in JFrog Ltd. (NASDAQ:FROG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,115,748 shares of the company’s stock, valued at approximately $32,401,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of JFrog by 394.2% during the first quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock worth $1,268,000 after acquiring an additional 22,864 shares during the period. Vanguard Group Inc. increased its stake in shares of JFrog by 7.4% during the first quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after acquiring an additional 523,432 shares during the period. Advisors Asset Management Inc. increased its stake in shares of JFrog by 33.9% during the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after acquiring an additional 662 shares during the period. Lazard Asset Management LLC increased its stake in shares of JFrog by 6.0% during the first quarter. Lazard Asset Management LLC now owns 15,549 shares of the company’s stock worth $686,000 after acquiring an additional 879 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of JFrog during the first quarter worth about $497,000. 85.02% of the stock is owned by hedge funds and other institutional investors.

JFrog Price Performance

Shares of NASDAQ FROG opened at $32.03 on Tuesday. JFrog Ltd. has a 12-month low of $22.91 and a 12-month high of $48.81. The company has a market capitalization of $3.26 billion, a PE ratio of -60.43 and a beta of 0.93. The firm’s 50-day moving average is $29.85 and its two-hundred day moving average is $31.56.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FROG. Baird R W upgraded shares of JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley dropped their price target on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer lowered shares of JFrog from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Needham & Company LLC upped their target price on shares of JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, TD Cowen upped their target price on shares of JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total transaction of $557,598.36. Following the transaction, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at approximately $136,043,960.58. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $30.86, for a total transaction of $1,080,100.00. Following the transaction, the director now directly owns 4,514,432 shares in the company, valued at $139,315,371.52. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,153 shares of company stock valued at $5,276,489. Company insiders own 15.70% 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.