West Tower Group LLC Acquires New Holdings in JFrog Ltd. (NASDAQ:FROG)

West Tower Group LLC acquired a new stake in JFrog Ltd. (NASDAQ:FROG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $116,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its stake in JFrog by 7.0% in the 2nd quarter. Mackenzie Financial Corp now owns 5,841 shares of the company’s stock valued at $219,000 after purchasing an additional 384 shares during the last quarter. George Kaiser Family Foundation raised its stake in shares of JFrog by 0.7% during the second quarter. George Kaiser Family Foundation now owns 75,037 shares of the company’s stock valued at $2,818,000 after acquiring an additional 532 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of JFrog by 1.6% during the third quarter. Van ECK Associates Corp now owns 37,229 shares of the company’s stock valued at $1,093,000 after acquiring an additional 577 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of JFrog by 33.9% during 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 during the last quarter. Finally, US Bancorp DE raised its stake in shares of JFrog by 13.6% during the third quarter. US Bancorp DE now owns 6,687 shares of the company’s stock valued at $194,000 after acquiring an additional 798 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.

JFrog Price Performance

FROG opened at $32.03 on Tuesday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -60.43 and a beta of 0.93. The firm’s fifty day moving average price is $29.85 and its two-hundred day moving average price is $31.56. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $48.81.

Wall Street Analysts Forecast Growth

FROG has been the subject of several analyst reports. Bank of America dropped their price target on shares of JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group lifted their target price on shares of JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC increased their price target on JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, November 8th. DA Davidson reaffirmed a “buy” rating and set a $40.00 target price on shares of JFrog in a research note on Monday, October 14th. Finally, Canaccord Genuity Group lowered their price objective on shares of JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.72.

Insiders Place Their Bets

In related news, Director Frederic Simon sold 35,000 shares of the business’s 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 transaction, the director now directly owns 4,514,432 shares of the company’s stock, valued at approximately $139,315,371.52. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ben Haim Shlomi sold 17,775 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $31.93, for a total transaction of $567,555.75. Following the completion of the transaction, the chief executive officer now directly owns 4,957,454 shares in the company, valued at $158,291,506.22. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,153 shares of company stock valued at $5,276,489 in the last three months. 15.70% of the stock is currently owned by insiders.

JFrog 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.