Bank of New York Mellon Corp Increases Holdings in JFrog Ltd. (NASDAQ:FROG)

Bank of New York Mellon Corp raised its stake in shares of JFrog Ltd. (NASDAQ:FROG) by 22.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,083,650 shares of the company’s stock after buying an additional 561,897 shares during the period. Bank of New York Mellon Corp owned about 3.03% of JFrog worth $115,791,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in JFrog during the 1st quarter valued at $26,000. Frazier Financial Advisors LLC purchased a new stake in JFrog during the 4th quarter valued at $35,000. Future Financial Wealth Managment LLC purchased a new stake in JFrog during the 1st quarter valued at $44,000. Advisors Asset Management Inc. raised its stake in JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after buying an additional 662 shares during the last quarter. Finally, RiverPark Advisors LLC purchased a new stake in shares of JFrog in the 1st quarter worth $140,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FROG. 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 note on Thursday, August 8th. Piper Sandler reduced their price objective on JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. KeyCorp reduced their price objective on JFrog from $46.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. FBN Securities began coverage on JFrog in a research note on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Stifel Nicolaus reduced their price objective on JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

JFrog Stock Up 1.7 %

FROG opened at $27.07 on Wednesday. The firm has a 50-day simple moving average of $33.64 and a two-hundred day simple moving average of $37.25. JFrog Ltd. has a 52 week low of $21.38 and a 52 week high of $48.81. The company has a market capitalization of $2.76 billion, a PE ratio of -57.59 and a beta of 0.96.

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the transaction, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the transaction, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.35, for a total transaction of $485,250.00. Following the transaction, the chief technology officer now directly owns 6,747,142 shares of the company’s stock, valued at approximately $218,270,043.70. The disclosure for this sale can be found here. Insiders sold 252,107 shares of company stock valued at $8,754,487 in the last 90 days. 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.