TimesSquare Capital Management LLC Boosts Stake in JFrog Ltd. (NASDAQ:FROG)

TimesSquare Capital Management LLC grew its holdings in shares of JFrog Ltd. (NASDAQ:FROG) by 12.0% during the fourth quarter, HoldingsChannel reports. The firm owned 3,400,276 shares of the company’s stock after purchasing an additional 365,376 shares during the quarter. JFrog accounts for approximately 1.5% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. TimesSquare Capital Management LLC’s holdings in JFrog were worth $100,002,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FROG. KBC Group NV increased its holdings in JFrog by 39.0% in the 4th quarter. KBC Group NV now owns 3,938 shares of the company’s stock valued at $116,000 after purchasing an additional 1,105 shares in the last quarter. West Tower Group LLC bought a new position in JFrog in the third quarter worth about $116,000. SG Americas Securities LLC bought a new position in JFrog in the fourth quarter worth about $193,000. US Bancorp DE increased its stake in shares of JFrog by 13.6% in the third quarter. US Bancorp DE now owns 6,687 shares of the company’s stock valued at $194,000 after purchasing an additional 798 shares during the period. Finally, Park Avenue Securities LLC acquired a new stake in shares of JFrog in the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Stock Up 5.6 %

Shares of JFrog stock opened at $42.03 on Wednesday. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $46.65. The business has a fifty day simple moving average of $33.20 and a two-hundred day simple moving average of $30.68.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.28). The firm had revenue of $116.08 million for the quarter, compared to analyst estimates of $114.16 million. JFrog had a negative return on equity of 6.52% and a negative net margin of 16.16%. Sell-side analysts predict that JFrog Ltd. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FROG. Stifel Nicolaus raised their price objective on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. UBS Group lifted their price objective on shares of JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 price objective on shares of JFrog in a research report on Wednesday, February 12th. Scotiabank boosted their price target on shares of JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, Morgan Stanley upped their price objective on shares of JFrog from $36.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

Insider Activity

In other JFrog news, CEO Ben Haim Shlomi sold 20,443 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $30.60, for a total value of $625,555.80. Following the completion of the sale, the chief executive officer now directly owns 4,937,011 shares in the company, valued at approximately $151,072,536.60. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Yoav Landman sold 24,652 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $37.43, for a total transaction of $922,724.36. Following the completion of the sale, the chief technology officer now owns 6,526,901 shares of the company’s stock, valued at $244,301,904.43. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,338 shares of company stock valued at $13,710,378. 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.