JFrog Ltd. (NASDAQ:FROG) Short Interest Update

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FROG. TD Cowen boosted their target price on shares of JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Truist Financial reaffirmed a “buy” rating and set a $35.00 price objective (up from $33.00) on shares of JFrog in a research report on Friday, November 8th. Barclays cut their target price on JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. UBS Group upped their price target on JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.72.

Insider Activity

In other JFrog news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.85, for a total transaction of $462,750.00. Following the sale, the chief technology officer now directly owns 6,612,242 shares in the company, valued at $203,987,665.70. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yossi Sela sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $31.86, for a total transaction of $796,500.00. Following the completion of the transaction, the director now directly owns 355,129 shares of the company’s stock, valued at $11,314,409.94. This represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,921 shares of company stock valued at $7,473,409. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in JFrog by 22.3% during the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock valued at $115,791,000 after acquiring an additional 561,897 shares during the period. TimesSquare Capital Management LLC grew its position in JFrog by 114.1% in the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock valued at $88,133,000 after acquiring an additional 1,617,551 shares in the last quarter. North Peak Capital Management LLC acquired a new position in shares of JFrog during the third quarter worth $73,417,000. Thrivent Financial for Lutherans boosted its stake in shares of JFrog by 33.3% in the third 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. Finally, Wasatch Advisors LP grew its holdings in JFrog by 6.2% during the 3rd quarter. Wasatch Advisors LP now owns 2,140,884 shares of the company’s stock valued at $62,171,000 after purchasing an additional 124,420 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Price Performance

Shares of NASDAQ FROG traded down $0.25 on Friday, hitting $30.16. The company’s stock had a trading volume of 1,241,006 shares, compared to its average volume of 1,237,894. The stock has a 50 day moving average of $30.53 and a 200-day moving average of $31.36. JFrog has a 12-month low of $22.91 and a 12-month high of $48.81. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -56.91 and a beta of 0.94.

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.