Champlain Investment Partners LLC Has $47.88 Million Holdings in JFrog Ltd. (NASDAQ:FROG)

Champlain Investment Partners LLC reduced its holdings in JFrog Ltd. (NASDAQ:FROG) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,648,870 shares of the company’s stock after selling 172,060 shares during the quarter. Champlain Investment Partners LLC’s holdings in JFrog were worth $47,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in shares of JFrog in the 3rd quarter worth approximately $32,401,000. Connor Clark & Lunn Investment Management Ltd. raised its position in JFrog by 1,277.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 231,762 shares of the company’s stock worth $6,730,000 after purchasing an additional 214,935 shares during the last quarter. Wrapmanager Inc. raised its position in JFrog by 13.5% in the 3rd quarter. Wrapmanager Inc. now owns 9,769 shares of the company’s stock worth $284,000 after purchasing an additional 1,161 shares during the last quarter. George Kaiser Family Foundation raised its position in JFrog by 37.1% in the 3rd quarter. George Kaiser Family Foundation now owns 102,858 shares of the company’s stock worth $2,987,000 after purchasing an additional 27,821 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in JFrog by 33.3% in the 3rd 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 last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FROG. TD Cowen boosted their price objective on shares of JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Barclays dropped their price target on shares of JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Scotiabank increased their price objective 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. Morgan Stanley lowered their target price on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler cut their price target on JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.72.

JFrog Stock Up 0.7 %

Shares of FROG stock opened at $32.15 on Friday. The firm has a fifty day moving average of $29.77 and a 200-day moving average of $31.69. JFrog Ltd. has a 12-month low of $22.91 and a 12-month high of $48.81. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -60.66 and a beta of 0.93.

Insider Transactions at JFrog

In related news, CEO Ben Haim Shlomi sold 16,714 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.21, for a total transaction of $471,501.94. Following the completion of the transaction, the chief executive officer now owns 5,010,779 shares in the company, valued at approximately $141,354,075.59. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Tali Notman sold 10,699 shares of JFrog 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 owns 536,714 shares in the company, valued at $15,183,639.06. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,153 shares of company stock valued at $5,276,489 over the last quarter. Corporate 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.