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

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FROG. TD Cowen raised their target price on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 28th. Barclays lowered their price objective on shares of JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. DA Davidson reissued a “buy” rating and set a $40.00 target price on shares of JFrog in a research report on Monday, October 14th. UBS Group raised their price target on shares of JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of JFrog in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

Insider Buying and Selling

In other news, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $31.93, for a total value of $567,555.75. Following the transaction, the chief executive officer now directly owns 4,957,454 shares in the company, valued at $158,291,506.22. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Yoav Landman sold 15,000 shares of the business’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 owns 6,582,242 shares of the company’s stock, valued at $199,178,642.92. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,146 shares of company stock valued at $8,544,054. Insiders own 15.70% of the company’s stock.

Institutional Trading of JFrog

Large investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC raised its position in JFrog by 114.1% during the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock valued at $88,133,000 after buying an additional 1,617,551 shares during the period. North Peak Capital Management LLC acquired a new position in shares of JFrog in the 3rd quarter valued at about $73,417,000. Thrivent Financial for Lutherans increased its holdings in shares of JFrog by 33.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after purchasing an additional 593,478 shares during the period. Wasatch Advisors LP lifted its position in shares of JFrog by 6.2% in the third quarter. Wasatch Advisors LP now owns 2,140,884 shares of the company’s stock worth $62,171,000 after purchasing an additional 124,420 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of JFrog by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock worth $62,636,000 after purchasing an additional 41,275 shares during the period. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Stock Performance

FROG traded down $0.03 during trading on Friday, reaching $32.75. The company had a trading volume of 1,388,160 shares, compared to its average volume of 707,567. The firm’s 50-day simple moving average is $30.98 and its 200 day simple moving average is $30.87. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -61.79 and a beta of 0.95. JFrog has a 12-month low of $22.91 and a 12-month high of $48.81.

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.