Scopia Capital Management LP Takes Position in JFrog Ltd. (NASDAQ:FROG)

Scopia Capital Management LP acquired a new stake in JFrog Ltd. (NASDAQ:FROG) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 444,895 shares of the company’s stock, valued at approximately $12,920,000. JFrog comprises approximately 2.7% of Scopia Capital Management LP’s portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in FROG. Advisors Asset Management Inc. lifted its position in shares of JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after acquiring an additional 662 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of JFrog in the first quarter valued at $497,000. Janus Henderson Group PLC lifted its position in shares of JFrog by 31.1% in the first quarter. Janus Henderson Group PLC now owns 42,781 shares of the company’s stock valued at $1,892,000 after acquiring an additional 10,142 shares in the last quarter. California State Teachers Retirement System increased its stake in JFrog by 9.0% in the first quarter. California State Teachers Retirement System now owns 75,583 shares of the company’s stock valued at $3,342,000 after purchasing an additional 6,272 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in JFrog by 56.9% in the second quarter. Harbor Capital Advisors Inc. now owns 17,194 shares of the company’s stock valued at $646,000 after purchasing an additional 6,237 shares during the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FROG has been the subject of several analyst reports. Robert W. Baird upped their target price on JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. TD Cowen upped their target price on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays dropped their target price on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price on shares of JFrog in a research note on Tuesday, October 29th. Finally, Scotiabank upped their target price on JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Three 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.72.

Insider Activity

In related news, CTO Yoav Landman sold 15,000 shares of the 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 completion of the transaction, the chief technology officer now owns 6,627,242 shares of the company’s stock, valued at approximately $185,562,776. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $30.86, for a total value of $1,080,100.00. Following the completion of the transaction, the director now directly owns 4,514,432 shares of the company’s stock, valued at $139,315,371.52. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,153 shares of company stock worth $5,276,489. 15.70% of the stock is currently owned by corporate insiders.

JFrog Stock Performance

FROG stock opened at $31.15 on Friday. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $48.81. The firm has a market cap of $3.17 billion, a P/E ratio of -58.77 and a beta of 0.93. The stock has a 50-day simple moving average of $30.08 and a 200-day simple moving average of $31.53.

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.