JFrog Ltd. (NASDAQ:FROG) Short Interest Update

JFrog Ltd. (NASDAQ:FROG) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,350,000 shares, an increase of 6.8% from the May 31st total of 2,200,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.6% of the company’s stock are short sold.

JFrog Stock Performance

FROG opened at $35.69 on Thursday. The stock has a fifty day moving average of $35.13 and a 200-day moving average of $37.35. The company has a market capitalization of $3.64 billion, a P/E ratio of -75.94 and a beta of 0.96. JFrog has a fifty-two week low of $21.38 and a fifty-two week high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. The business had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. On average, equities research analysts predict that JFrog will post -0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of JFrog in a research note on Tuesday, June 25th. Cantor Fitzgerald upped their price target on shares of JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. Morgan Stanley decreased their price objective on shares of JFrog from $52.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Scotiabank dropped their target price on shares of JFrog from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Friday, May 10th. Finally, Oppenheimer lifted their price target on JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, JFrog has a consensus rating of “Moderate Buy” and an average target price of $43.93.

Insider Activity at JFrog

In other JFrog news, CRO Tali Notman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $42.60, for a total transaction of $255,600.00. Following the completion of the transaction, the executive now owns 522,348 shares of the company’s stock, valued at approximately $22,252,024.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other JFrog news, CRO Tali Notman sold 6,000 shares of JFrog stock in a transaction on Friday, April 5th. The shares were sold at an average price of $42.60, for a total value of $255,600.00. Following the sale, the executive now directly owns 522,348 shares in the company, valued at approximately $22,252,024.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Yoav Landman sold 16,277 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $36.66, for a total transaction of $596,714.82. Following the transaction, the chief technology officer now owns 6,697,242 shares of the company’s stock, valued at $245,520,891.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,207 shares of company stock valued at $9,250,464. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On JFrog

Hedge funds have recently added to or reduced their stakes in the stock. Washington Harbour Partners LP lifted its position in shares of JFrog by 3.1% during the 1st quarter. Washington Harbour Partners LP now owns 101,267 shares of the company’s stock valued at $4,478,000 after acquiring an additional 3,000 shares during the period. Castleark Management LLC acquired a new position in JFrog in the first quarter valued at about $4,979,000. Tidal Investments LLC bought a new stake in JFrog during the first quarter worth about $3,251,000. California State Teachers Retirement System grew its stake in JFrog by 9.0% during the first quarter. California State Teachers Retirement System now owns 75,583 shares of the company’s stock worth $3,342,000 after buying an additional 6,272 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in JFrog by 31.1% in the 1st quarter. Janus Henderson Group PLC now owns 42,781 shares of the company’s stock valued at $1,892,000 after buying an additional 10,142 shares during the period. Institutional investors own 85.02% of the company’s stock.

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.