JFrog Ltd. (NASDAQ:FROG) Short Interest Update

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

JFrog Price Performance

Shares of FROG stock traded down $1.10 during trading hours on Thursday, reaching $30.36. 390,044 shares of the stock were exchanged, compared to its average volume of 1,303,285. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The business’s fifty day moving average is $27.94 and its two-hundred day moving average is $33.56. The firm has a market capitalization of $3.09 billion, a P/E ratio of -66.94 and a beta of 0.94.

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

Insider Activity

In related news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total value of $1,356,250.00. Following the transaction, the director now directly owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. 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 hyperlink. In other news, CEO Ben Haim Shlomi sold 20,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the sale, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. 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 available at the SEC website. Also, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were 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 $176,290,490. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,031 shares of company stock valued at $6,460,097 in the last ninety days. 15.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JFrog

Several hedge funds have recently modified their holdings of FROG. Vanguard Group Inc. boosted its holdings in JFrog by 7.4% during the first quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after buying an additional 523,432 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of JFrog by 22.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after acquiring an additional 561,897 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of JFrog by 4.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock worth $76,160,000 after acquiring an additional 73,036 shares during the period. Renaissance Technologies LLC increased its stake in JFrog by 17.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock valued at $62,904,000 after purchasing an additional 254,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in 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 in the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on FROG. Truist Financial reduced their target price on JFrog from $50.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Piper Sandler decreased their target price on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. DA Davidson reissued a “buy” rating and set a $40.00 price target on shares of JFrog in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of JFrog in a research note on Monday, September 16th. Finally, Barclays lowered their price objective on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.