JFrog Ltd. (NASDAQ:FROG) Sees Large Growth in Short Interest

JFrog Ltd. (NASDAQ:FROG) saw a large 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. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily volume of 968,900 shares, the days-to-cover ratio is currently 3.0 days.

Insider Activity at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of JFrog 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 sale, the director now directly owns 4,514,432 shares in the company, valued at approximately $139,315,371.52. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 17,775 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $31.93, for a total transaction of $567,555.75. Following the completion of the sale, the chief executive officer now owns 4,957,454 shares in the company, valued at approximately $158,291,506.22. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,146 shares of company stock valued at $8,544,054. 15.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On JFrog

Large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. grew its position in JFrog by 30.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock worth $25,963,000 after purchasing an additional 210,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in JFrog by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock worth $43,817,000 after acquiring an additional 159,483 shares during the period. Principal Financial Group Inc. grew its stake in JFrog by 55.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after purchasing an additional 514,895 shares during the last quarter. North Peak Capital Management LLC acquired a new position in shares of JFrog in the third quarter valued at about $73,417,000. Finally, Atom Investors LP raised its stake in shares of JFrog by 57.0% in the third quarter. Atom Investors LP now owns 66,449 shares of the company’s stock worth $1,930,000 after purchasing an additional 24,120 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank increased their price target on JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. TD Cowen increased 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. UBS Group boosted their price target on shares of JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC lifted their price objective on shares of JFrog from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Barclays decreased their target price on shares of JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Three research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

JFrog Price Performance

Shares of FROG opened at $32.75 on Tuesday. JFrog has a 1-year low of $22.91 and a 1-year high of $48.81. The company has a 50-day moving average of $30.98 and a 200 day moving average of $30.83. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -61.79 and a beta of 0.95.

About JFrog

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.