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

JFrog Ltd. (NASDAQ:FROG) was the recipient of a significant growth in short interest in 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. Based on an average daily trading volume, of 968,900 shares, the short-interest ratio is presently 3.0 days. Currently, 3.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen upped their target price on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Barclays decreased their price objective on JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of JFrog in a report on Tuesday, October 29th. Needham & Company LLC increased their target price on shares of JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Truist Financial restated a “buy” rating and issued a $35.00 price target (up previously from $33.00) on shares of JFrog in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

JFrog Stock Performance

Shares of NASDAQ:FROG traded down $0.03 during midday trading on Monday, hitting $32.75. 1,388,160 shares of the stock were exchanged, compared to its average volume of 707,567. The business’s 50-day moving average price is $30.98 and its 200 day moving average price is $30.83. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -61.79 and a beta of 0.95.

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $30.86, for a total value of $1,080,100.00. Following the transaction, the director now directly owns 4,514,432 shares in the company, valued at $139,315,371.52. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $567,555.75. Following the sale, the chief executive officer now owns 4,957,454 shares of the company’s stock, valued at approximately $158,291,506.22. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,146 shares of company stock worth $8,544,054 over the last 90 days. Company insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

Several hedge funds have recently added to or reduced their stakes in FROG. Envestnet Asset Management Inc. raised its stake in shares of JFrog by 3.9% during the second quarter. Envestnet Asset Management Inc. now owns 162,132 shares of the company’s stock valued at $6,088,000 after acquiring an additional 6,026 shares during the last quarter. Dimensional Fund Advisors LP raised its position in JFrog by 2.5% during the 2nd 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 last quarter. Granite Investment Partners LLC lifted its holdings in JFrog by 15.3% during the 2nd quarter. Granite Investment Partners LLC now owns 163,703 shares of the company’s stock worth $6,147,000 after buying an additional 21,698 shares during the period. Sei Investments Co. grew its position in shares of JFrog by 3.3% in the 2nd quarter. Sei Investments Co. now owns 104,724 shares of the company’s stock valued at $3,932,000 after buying an additional 3,314 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of JFrog in the second quarter valued at about $30,098,000. 85.02% of the stock is currently owned by institutional investors and hedge funds.

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.