JFrog (NASDAQ:FROG – Get Rating) had its price objective hoisted by JPMorgan Chase & Co. from $28.00 to $29.00 in a report released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equity analysts also recently issued research reports about the company. Piper Sandler decreased their price objective on JFrog from $26.00 to $24.00 and set a neutral rating for the company in a report on Thursday, January 5th. Needham & Company LLC decreased their price objective on JFrog from $30.00 to $28.00 and set a buy rating for the company in a report on Thursday, November 3rd. Morgan Stanley reduced their price target on JFrog from $28.00 to $26.00 and set an equal weight rating for the company in a report on Thursday, October 20th. Cantor Fitzgerald initiated coverage on JFrog in a report on Wednesday, January 25th. They set an overweight rating and a $29.00 price target for the company. Finally, Bank of America upgraded JFrog from a neutral rating to a buy rating and raised their price target for the company from $28.00 to $32.00 in a report on Wednesday, January 4th. Two equity research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $29.45.

JFrog Trading Down 5.4 %

FROG opened at $25.21 on Monday. The stock has a fifty day simple moving average of $22.88 and a two-hundred day simple moving average of $22.70. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -27.70 and a beta of 0.47. JFrog has a 12-month low of $16.36 and a 12-month high of $28.18.

Insider Activity at JFrog

In related news, Director Yossi Sela sold 73,920 shares of the stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $23.00, for a total transaction of $1,700,160.00. Following the sale, the director now directly owns 8,490,780 shares of the company’s stock, valued at $195,287,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other JFrog news, CTO Yoav Landman sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $20.10, for a total value of $402,000.00. Following the transaction, the chief technology officer now directly owns 7,401,542 shares of the company’s stock, valued at $148,770,994.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yossi Sela sold 73,920 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $23.00, for a total value of $1,700,160.00. Following the completion of the transaction, the director now directly owns 8,490,780 shares in the company, valued at $195,287,940. The disclosure for this sale can be found here. Insiders have sold 287,076 shares of company stock valued at $6,548,984 over the last ninety days. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in JFrog by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,056,555 shares of the company’s stock worth $111,801,000 after purchasing an additional 184,093 shares during the last quarter. Eminence Capital LP boosted its position in JFrog by 0.3% in the third quarter. Eminence Capital LP now owns 2,388,505 shares of the company’s stock worth $52,810,000 after purchasing an additional 6,540 shares during the last quarter. Point72 Asset Management LP boosted its position in JFrog by 27.6% in the third quarter. Point72 Asset Management LP now owns 2,117,830 shares of the company’s stock worth $46,825,000 after purchasing an additional 458,600 shares during the last quarter. Bank of New York Mellon Corp boosted its position in JFrog by 245.3% in the third quarter. Bank of New York Mellon Corp now owns 1,836,848 shares of the company’s stock worth $40,612,000 after purchasing an additional 1,304,898 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of JFrog by 20.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,752,614 shares of the company’s stock valued at $36,927,000 after buying an additional 302,231 shares in the last quarter. 53.34% of the stock is owned by hedge funds and other institutional investors.

About JFrog

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JFrog Ltd. provides DevOps platform in the United States. The company’s products include JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages at any scale; JFrog Pipelines, an integration/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scans JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance.

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