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

JFrog Ltd. (NASDAQ:FROG) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 3,540,000 shares, an increase of 8.3% from the September 15th total of 3,270,000 shares. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is currently 2.6 days. Approximately 3.9% of the shares of the company are short sold.

JFrog Stock Down 3.7 %

Shares of JFrog stock traded down $1.17 during trading on Thursday, reaching $30.29. 798,064 shares of the stock were exchanged, compared to its average volume of 1,305,315. The stock’s fifty day moving average is $27.94 and its 200 day moving average is $33.56. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -64.60 and a beta of 0.94. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last posted its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $103.04 million for the quarter, compared to analysts’ expectations of $103.53 million. JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. Equities analysts forecast that JFrog will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other JFrog news, CEO Ben Haim Shlomi sold 35,550 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the sale, the chief executive officer now owns 4,975,229 shares in the company, valued at $149,256,870. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the sale, the director now owns 4,549,432 shares in the company, valued at $176,290,490. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ben Haim Shlomi sold 35,550 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total value of $1,066,500.00. Following the sale, the chief executive officer now owns 4,975,229 shares in the company, valued at approximately $149,256,870. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,031 shares of company stock worth $6,460,097 over the last 90 days. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of JFrog

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in JFrog by 7.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,841 shares of the company’s stock valued at $219,000 after acquiring an additional 384 shares in the last quarter. George Kaiser Family Foundation boosted its position in JFrog by 0.7% during the 2nd 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 in the last quarter. Advisors Asset Management Inc. boosted its position in JFrog by 33.9% during the 1st 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 in the last quarter. Lazard Asset Management LLC boosted its position in JFrog by 6.0% during the 1st quarter. Lazard Asset Management LLC now owns 15,549 shares of the company’s stock valued at $686,000 after acquiring an additional 879 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in JFrog during the 1st quarter valued at approximately $44,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays decreased their price target on shares of JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Piper Sandler decreased their price target on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of JFrog in a report on Monday, September 16th. Finally, Baird R W raised JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Three research 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 company. According to data from MarketBeat, JFrog currently has a consensus rating of “Moderate Buy” and an average target price of $36.28.

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.