Should You Invest in JFrog Ltd. (FROG)?

Madison Investments, an investment advisor, released its “Madison Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Class Y) declined 6.1% compared to a 5.1% decline for the Russell 2000 Index. Year-to-date, the fund is up 4.3% compared to 2.5% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Small Cap Fund highlighted stocks like JFrog Ltd. (NASDAQ:FROG) in the third quarter 2023 investor letter. Headquartered in Sunnyvale, California, JFrog Ltd. (NASDAQ:FROG) provides a universal DevOps Platform. On October 24, 2023, JFrog Ltd. (NASDAQ:FROG) stock closed at $23.02 per share. One-month return of JFrog Ltd. (NASDAQ:FROG) was -10.53%, and its shares lost 10.01% of their value over the last 52 weeks. JFrog Ltd. (NASDAQ:FROG) has a market capitalization of $2.389 billion.

Madison Small Cap Fund made the following comment about JFrog Ltd. (NASDAQ:FROG) in its Q3 2023 investor letter:

“In the third quarter, we added two investments to the portfolio (FROG and HAYW). Software provider JFrog Ltd. (NASDAQ:FROG) sells software tools to the Dev/Sec/Ops space (Development, Security and Operations). Their software forms a critical component of the software development chain. Essentially, large enterprises use FROG’s tools to develop, secure and operate their software infrastructure. We believe J Frog is a very strategic asset that dominates its niche. The company is profitable, with recurring revenues that drive material cash flow, buttressed with a strong balance sheet.”

A corporate executive standing in front of a large monitor, demonstrating the DevOps package repository. Editorial photo for a financial news article. 8k. –ar 16:9

JFrog Ltd. (NASDAQ:FROG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held JFrog Ltd. (NASDAQ:FROG) at the end of second quarter which was 25 in the previous quarter.

We discussed JFrog Ltd. (NASDAQ:FROG) in another article and shared TimesSquare U.S. Small Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.