JFrog Ltd. (NASDAQ:FROG) Sees Large Growth in Short Interest

JFrog Ltd. (NASDAQ:FROG) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,930,000 shares, a growth of 6.9% from the December 31st total of 2,740,000 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily volume of 968,900 shares, the short-interest ratio is presently 3.0 days.

Insiders Place Their Bets

In other JFrog news, CRO Tali Notman sold 75,635 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the completion of the transaction, the executive now owns 582,394 shares in the company, valued at $20,383,790. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Yoav Landman sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $30.26, for a total value of $453,900.00. Following the sale, the chief technology officer now directly owns 6,582,242 shares in the company, valued at $199,178,642.92. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,044 shares of company stock valued at $11,414,883 over the last ninety days. Company insiders own 15.70% of the company’s stock.

Institutional Trading of JFrog

Several institutional investors and hedge funds have recently bought and sold shares of FROG. Handelsbanken Fonder AB boosted its holdings in shares of JFrog by 8.9% during the fourth quarter. Handelsbanken Fonder AB now owns 25,800 shares of the company’s stock valued at $759,000 after acquiring an additional 2,100 shares during the period. TimesSquare Capital Management LLC boosted its position in JFrog by 12.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock worth $100,002,000 after acquiring an additional 365,376 shares during the period. Peregrine Capital Management LLC grew its stake in shares of JFrog by 11.9% in the fourth quarter. Peregrine Capital Management LLC now owns 327,835 shares of the company’s stock worth $9,642,000 after purchasing an additional 34,900 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of JFrog by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,470,498 shares of the company’s stock valued at $43,249,000 after purchasing an additional 32,557 shares in the last quarter. Finally, abrdn plc raised its position in shares of JFrog by 4.1% during the 4th quarter. abrdn plc now owns 772,202 shares of the company’s stock worth $22,784,000 after buying an additional 30,392 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC boosted their target price on JFrog from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. TD Cowen increased their price objective on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 28th. Robert W. Baird lifted their target price on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Barclays lowered their price objective on shares of JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of JFrog in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.89.

JFrog Stock Performance

Shares of NASDAQ FROG opened at $35.45 on Tuesday. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81. The stock’s 50-day simple moving average is $31.77 and its 200-day simple moving average is $30.69. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -66.89 and a beta of 0.97.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.24). The company had revenue of $109.06 million for the quarter, compared to analyst estimates of $105.54 million. JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. During the same period in the previous year, the business posted ($0.10) EPS. As a group, research analysts predict that JFrog will post -0.32 EPS for the current year.

JFrog Company 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.