Short Interest in JFrog Ltd. (NASDAQ:FROG) Rises By 6.8%

JFrog Ltd. (NASDAQ:FROG) saw a significant increase in short interest in 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. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on FROG shares. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of JFrog in a research report on Tuesday, June 25th. UBS Group began coverage on shares of JFrog in a research report on Wednesday, May 22nd. They set a “buy” rating and a $41.00 target price for the company. Truist Financial increased their price target on shares of JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. FBN Securities started coverage on shares of JFrog in a report on Wednesday, May 22nd. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Morgan Stanley reduced their target price on JFrog from $52.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.93.

JFrog Trading Down 0.8 %

NASDAQ FROG opened at $35.69 on Thursday. The firm has a market cap of $3.64 billion, a PE ratio of -75.94 and a beta of 0.96. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81. The stock has a 50-day moving average of $35.13 and a 200-day moving average of $37.35.

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

Insider Activity

In other JFrog news, CRO Tali Notman sold 6,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $42.60, for a total value of $255,600.00. Following the completion of the transaction, the executive now owns 522,348 shares in the company, valued at approximately $22,252,024.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other JFrog news, CRO Tali Notman sold 6,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Yoav Landman sold 2,250 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total transaction of $79,380.00. Following the completion of the transaction, the chief technology officer now directly owns 6,744,892 shares of the company’s stock, valued at $237,959,789.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,207 shares of company stock worth $9,250,464. 15.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JFrog

Several institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in shares of JFrog during the fourth quarter worth about $2,206,000. Syon Capital LLC purchased a new position in JFrog during the 4th quarter valued at $22,086,000. Vanguard Group Inc. lifted its position in shares of JFrog by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock worth $178,344,000 after purchasing an additional 679,007 shares during the period. Dimensional Fund Advisors LP increased its position in shares of JFrog by 10.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,575,867 shares of the company’s stock valued at $54,542,000 after buying an additional 145,465 shares during the period. Finally, Flight Deck Capital LP bought a new position in JFrog in the fourth quarter worth about $3,357,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

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.