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

JFrog Ltd. (NASDAQ:FROG) was the target of a large drop in short interest in 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. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 3.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research firms recently commented on FROG. Barclays dropped 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. UBS Group lifted their price objective on shares of JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Truist Financial reissued a “buy” rating and set a $35.00 target price (up from $33.00) on shares of JFrog in a research report on Friday, November 8th. DA Davidson reaffirmed a “buy” rating and issued a $40.00 price target on shares of JFrog in a research report on Monday, October 14th. Finally, Baird R W upgraded JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

JFrog Price Performance

Shares of JFrog stock traded down $0.01 during trading on Tuesday, hitting $31.21. 907,573 shares of the company’s stock traded hands, compared to its average volume of 1,235,575. The company has a market cap of $3.18 billion, a PE ratio of -58.89 and a beta of 0.94. The firm’s fifty day moving average price is $30.69 and its 200 day moving average price is $31.32. JFrog has a twelve month low of $22.91 and a twelve month high of $48.81.

Insider Transactions at JFrog

In related news, CFO Eduard Grabscheid sold 834 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $30.60, for a total transaction of $25,520.40. Following the transaction, the chief financial officer now directly owns 97,260 shares of the company’s stock, valued at approximately $2,976,156. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of JFrog stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the sale, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,921 shares of company stock valued at $7,927,309 in the last three months. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JFrog

A number of institutional investors have recently added to or reduced their stakes in FROG. North Peak Capital Management LLC acquired a new position in shares of JFrog in the 3rd quarter worth approximately $73,417,000. TimesSquare Capital Management LLC grew its holdings in shares of JFrog by 114.1% during the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of JFrog during the third quarter worth $32,401,000. Meitav Investment House Ltd. increased its stake in shares of JFrog by 4,244.7% in the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after buying an additional 856,451 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in JFrog by 172.5% during the 2nd quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock worth $49,943,000 after buying an additional 841,956 shares in the last quarter. 85.02% of the stock is 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.