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

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

Insiders Place Their Bets

In other JFrog news, CRO Tali Notman sold 6,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $42.60, for a total transaction of $255,600.00. Following the completion of the sale, the executive now owns 522,348 shares of the company’s stock, valued at approximately $22,252,024.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the completion of the sale, the director now directly owns 4,654,432 shares of the company’s stock, valued at approximately $181,383,215.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Tali Notman sold 6,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive now owns 522,348 shares of the company’s stock, valued at $22,252,024.80. The disclosure for this sale can be found here. Insiders have sold a total of 263,207 shares of company stock valued at $9,250,464 over the last 90 days. 15.70% of the stock is currently owned by insiders.

Institutional Trading of JFrog

A number of hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in JFrog by 131.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 124,864 shares of the company’s stock worth $3,167,000 after buying an additional 71,009 shares during the period. Stifel Financial Corp increased its position in shares of JFrog by 0.7% during the third quarter. Stifel Financial Corp now owns 182,417 shares of the company’s stock worth $4,626,000 after buying an additional 1,290 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in JFrog by 10.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,122 shares of the company’s stock worth $333,000 after buying an additional 1,249 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in JFrog by 452.7% in the third quarter. Qube Research & Technologies Ltd now owns 134,981 shares of the company’s stock valued at $3,423,000 after buying an additional 110,561 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in JFrog by 34.6% during the 3rd quarter. Lazard Asset Management LLC now owns 23,358 shares of the company’s stock worth $591,000 after acquiring an additional 6,004 shares during the period. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Price Performance

FROG stock traded down $0.30 during trading on Wednesday, reaching $35.69. 815,744 shares of the company were exchanged, compared to its average volume of 1,264,604. JFrog has a twelve month low of $21.38 and a twelve month high of $48.81. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -75.94 and a beta of 0.96. The company has a 50-day moving average of $35.13 and a two-hundred day moving average of $37.35.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. The company had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. On average, analysts forecast that JFrog will post -0.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FROG. KeyCorp lowered their price target on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. FBN Securities began coverage on shares of JFrog in a research report on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 price target for the company. Oppenheimer increased their price target on JFrog from $41.00 to $48.00 in a research report on Thursday, March 7th. Barclays started coverage on JFrog in a report on Wednesday, June 26th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, UBS Group began coverage on JFrog in a research report on Wednesday, May 22nd. They set a “buy” rating and a $41.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.93.

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.