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

JFrog Ltd. (NASDAQ:FROG) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,330,000 shares, a drop of 9.3% from the November 15th total of 3,670,000 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 3.2 days. Currently, 3.6% of the company’s shares are sold short.

Insider Activity at JFrog

In related news, CTO Yoav Landman sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $30.26, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $1,066,500.00. Following the transaction, the chief executive officer now owns 4,975,229 shares of the company’s stock, valued at $149,256,870. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,921 shares of company stock worth $7,927,309 over the last 90 days. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of JFrog by 7.0% in the second quarter. Mackenzie Financial Corp now owns 5,841 shares of the company’s stock worth $219,000 after purchasing an additional 384 shares during the last quarter. George Kaiser Family Foundation boosted 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 purchasing an additional 532 shares during the period. Van ECK Associates Corp boosted its holdings 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 worth $1,093,000 after purchasing an additional 577 shares during the period. US Bancorp DE lifted its holdings in JFrog by 13.6% in the third quarter. US Bancorp DE now owns 6,687 shares of the company’s stock worth $194,000 after buying an additional 798 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of JFrog in the 3rd quarter valued at approximately $29,000. 85.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FROG. Robert W. Baird increased their price target on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of JFrog in a research report on Tuesday, October 29th. KeyCorp upped their price objective on shares of JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Needham & Company LLC upped their price objective on JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Barclays dropped their price target on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Three equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

JFrog Price Performance

Shares of JFrog stock traded down $0.01 during trading hours on Tuesday, reaching $31.21. The company had a trading volume of 907,573 shares, compared to its average volume of 1,235,575. The business has a fifty day simple moving average of $30.69 and a 200 day simple moving average of $31.32. The firm has a market cap of $3.18 billion, a PE ratio of -58.89 and a beta of 0.94. JFrog has a one year low of $22.91 and a one year high of $48.81.

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.