JFrog Ltd. (NASDAQ:FROG) Short Interest Up 33.2% in March

JFrog Ltd. (NASDAQ:FROG) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,050,000 shares, a growth of 33.2% from the March 15th total of 3,040,000 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 3.9 days.

JFrog Trading Down 2.3 %

Shares of FROG stock traded down $0.72 during midday trading on Friday, reaching $31.08. 613,588 shares of the stock were exchanged, compared to its average volume of 1,151,495. The firm has a market cap of $3.56 billion, a PE ratio of -49.33 and a beta of 0.98. The company’s 50 day moving average is $34.12 and its two-hundred day moving average is $32.37. JFrog has a 1 year low of $22.91 and a 1 year high of $43.00.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The firm had revenue of $116.08 million for the quarter, compared to analysts’ expectations of $114.16 million. As a group, equities analysts expect that JFrog will post -0.33 EPS for the current fiscal year.

Insider Transactions at JFrog

In related news, CRO Tali Notman sold 75,635 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $35.00, for a total value of $2,647,225.00. Following the completion of the transaction, the executive now directly owns 582,394 shares in the company, valued at approximately $20,383,790. The trade was a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $36.73, for a total value of $652,875.75. Following the sale, the chief executive officer now owns 4,866,809 shares in the company, valued at $178,757,894.57. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 429,104 shares of company stock valued at $15,084,429. 15.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JFrog

A number of hedge funds and other institutional investors have recently bought and sold shares of FROG. Norges Bank bought a new stake in shares of JFrog in the 4th quarter worth approximately $32,878,000. Raymond James Financial Inc. purchased a new stake in shares of JFrog in the fourth quarter worth $30,554,000. Mackenzie Financial Corp increased its holdings in shares of JFrog by 93.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company’s stock valued at $58,703,000 after acquiring an additional 965,912 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in JFrog by 48.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock worth $71,961,000 after purchasing an additional 797,949 shares in the last quarter. Finally, Bamco Inc. NY purchased a new stake in JFrog during the 4th quarter valued at about $21,322,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $38.00 price objective on shares of JFrog in a report on Wednesday, February 12th. DA Davidson lowered their price objective on shares of JFrog from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 14th. Needham & Company LLC lifted their target price on shares of JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Canaccord Genuity Group upped their price target on shares of JFrog from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Raymond James assumed coverage on JFrog in a research note on Friday, April 11th. They set an “outperform” rating and a $40.00 price objective on the stock. Three equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.71.

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.