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

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

Insiders Place Their Bets

In other news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 4,549,432 shares in the company, valued at $176,290,490. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction that occurred 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 directly owns 4,549,432 shares in the company, valued at approximately $176,290,490. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $25.68, for a total value of $385,200.00. Following the completion of the sale, the chief technology officer now directly owns 6,642,242 shares in the company, valued at approximately $170,572,774.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,031 shares of company stock valued at $6,460,097 over the last three months. 15.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Washington Capital Management Inc. acquired a new position in shares of JFrog during the third quarter valued at about $421,000. Procyon Advisors LLC grew its holdings in JFrog by 116.2% during the third quarter. Procyon Advisors LLC now owns 15,256 shares of the company’s stock worth $443,000 after buying an additional 8,200 shares in the last quarter. Exchange Traded Concepts LLC raised its position in JFrog by 12.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 81,836 shares of the company’s stock valued at $2,377,000 after buying an additional 9,368 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in JFrog during the 3rd quarter valued at $29,000. Finally, Handelsbanken Fonder AB boosted its holdings in JFrog by 53.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,700 shares of the company’s stock worth $688,000 after acquiring an additional 8,300 shares during the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Price Performance

FROG stock traded down $1.10 during midday trading on Thursday, reaching $30.36. 390,044 shares of the stock were exchanged, compared to its average volume of 1,303,285. The stock has a market capitalization of $3.09 billion, a PE ratio of -66.94 and a beta of 0.94. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81. The company has a fifty day moving average price of $27.94 and a 200 day moving average price of $33.56.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Baird R W upgraded shares of JFrog to a “strong-buy” rating in a report on Tuesday, August 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 target price on shares of JFrog in a research note on Wednesday, September 11th. Robert W. Baird assumed coverage on JFrog in a research report on Tuesday, August 27th. They set an “outperform” rating and a $32.00 price target on the stock. Truist Financial cut their price objective on JFrog from $50.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Stifel Nicolaus lowered their target price on JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.28.

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.