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

JFrog Ltd. (NASDAQ:FROG) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 3,330,000 shares, a drop of 9.3% from the November 15th total of 3,670,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 3.2 days.

JFrog Price Performance

Shares of FROG traded down $0.25 during trading hours on Friday, hitting $30.16. The stock had a trading volume of 1,241,006 shares, compared to its average volume of 1,237,894. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -56.91 and a beta of 0.94. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81. The company’s fifty day moving average is $30.53 and its two-hundred day moving average is $31.36.

Insider Buying and Selling at JFrog

In related news, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the transaction, the chief executive officer now owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.85, for a total transaction of $462,750.00. Following the completion of the sale, the chief technology officer now directly owns 6,612,242 shares of the company’s stock, valued at $203,987,665.70. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,921 shares of company stock worth $7,473,409. 15.70% of the stock is owned by company insiders.

Institutional Trading of JFrog

Several hedge funds have recently modified their holdings of FROG. Future Financial Wealth Managment LLC bought a new stake in shares of JFrog during the third quarter valued at approximately $29,000. West Tower Group LLC bought a new position in JFrog in the 3rd quarter valued at $116,000. SG Americas Securities LLC acquired a new stake in shares of JFrog in the 2nd quarter valued at $187,000. Sanctuary Advisors LLC bought a new stake in shares of JFrog during the second quarter worth $188,000. Finally, US Bancorp DE boosted its holdings in JFrog by 13.6% in the third quarter. US Bancorp DE now owns 6,687 shares of the company’s stock valued at $194,000 after acquiring an additional 798 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FROG shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of JFrog in a research note on Tuesday, October 29th. TD Cowen upped their price target 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. KeyCorp increased their price objective on JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Truist Financial reiterated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of JFrog in a research note on Friday, November 8th. Finally, Baird R W upgraded JFrog to a “strong-buy” rating in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, JFrog has an average rating of “Moderate Buy” and a consensus price target of $37.72.

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.