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

JFrog Ltd. (NASDAQ:FROG) was the recipient of a large growth in short interest in 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. Approximately 3.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,370,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Ratings Changes

FROG has been the subject of several research analyst reports. Bank of America lowered their price objective on JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group lowered their price objective on JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus decreased their target price on JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Baird R W raised JFrog to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Piper Sandler decreased their target price on JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Three research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.28.

JFrog Price Performance

Shares of NASDAQ FROG traded down $1.17 during midday trading on Thursday, reaching $30.29. The company’s stock had a trading volume of 798,064 shares, compared to its average volume of 1,305,315. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The firm has a 50 day moving average price of $27.94 and a 200-day moving average price of $33.56. The stock has a market capitalization of $3.09 billion, a P/E ratio of -64.60 and a beta of 0.94.

JFrog (NASDAQ:FROG) last announced 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). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The business had revenue of $103.04 million during the quarter, compared to analysts’ expectations of $103.53 million. On average, equities analysts predict that JFrog will post -0.28 EPS for the current year.

Insiders Place Their Bets

In other JFrog news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the transaction, the chief technology officer now directly owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $25.68, for a total value of $385,200.00. Following the completion of the transaction, the chief technology officer now directly owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 20,606 shares of JFrog stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at approximately $136,043,960.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,031 shares of company stock valued at $6,460,097. 15.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JFrog

Several institutional investors have recently bought and sold shares of FROG. Vanguard Group Inc. lifted its stake in JFrog by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,055,519 shares of the company’s stock valued at $244,192,000 after purchasing an additional 23,030 shares during the last quarter. Quadrature Capital Ltd lifted its stake in JFrog by 20.5% in the fourth quarter. Quadrature Capital Ltd now owns 63,729 shares of the company’s stock valued at $2,206,000 after purchasing an additional 10,856 shares during the last quarter. Park Avenue Securities LLC purchased a new position in JFrog in the first quarter valued at approximately $229,000. Counterpoint Mutual Funds LLC purchased a new position in JFrog in the first quarter valued at approximately $271,000. Finally, Future Financial Wealth Managment LLC purchased a new position in JFrog in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

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.