North Peak Capital Management LLC Makes New $73.42 Million Investment in JFrog Ltd. (NASDAQ:FROG)

North Peak Capital Management LLC purchased a new stake in shares of JFrog Ltd. (NASDAQ:FROG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,528,133 shares of the company’s stock, valued at approximately $73,417,000. JFrog accounts for 10.3% of North Peak Capital Management LLC’s portfolio, making the stock its 5th biggest holding. North Peak Capital Management LLC owned 2.48% of JFrog as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in JFrog by 7.4% in the 1st 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of JFrog by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after purchasing an additional 561,897 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of JFrog by 114.1% in the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of JFrog by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock worth $68,969,000 after purchasing an additional 593,478 shares during the period. Finally, Renaissance Technologies LLC grew its position in JFrog by 17.9% during the second quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock valued at $62,904,000 after purchasing an additional 254,100 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Insider Buying and Selling

In related news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction 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 owns 4,514,432 shares of the company’s stock, valued at approximately $139,315,371.52. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Tali Notman sold 10,699 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.29, for a total transaction of $302,674.71. Following the completion of the sale, the executive now directly owns 536,714 shares of the company’s stock, valued at approximately $15,183,639.06. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,153 shares of company stock valued at $5,276,489. Insiders own 15.70% of the company’s stock.

JFrog Price Performance

JFrog stock opened at $32.03 on Tuesday. JFrog Ltd. has a fifty-two week low of $22.91 and a fifty-two week high of $48.81. The firm has a fifty day moving average price of $29.85 and a two-hundred day moving average price of $31.56. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of -60.43 and a beta of 0.93.

Analyst Ratings Changes

FROG has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Canaccord Genuity Group reduced their price objective on JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial restated a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of JFrog in a research note on Friday, November 8th. Stifel Nicolaus cut 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. Finally, Bank of America lowered their price target on JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.