Short Interest in JFrog Ltd. (NASDAQ:FROG) Grows By 33.2%

JFrog Ltd. (NASDAQ:FROG) was the target of a significant growth in short interest during the month of 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 company’s shares are sold short. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is currently 3.9 days.

JFrog Stock Performance

NASDAQ:FROG traded down $0.72 during trading hours on Friday, reaching $31.08. The stock had a trading volume of 613,588 shares, compared to its average volume of 1,151,495. JFrog has a 12-month low of $22.91 and a 12-month high of $43.00. The stock has a 50 day simple moving average of $34.12 and a 200 day simple moving average of $32.37. The stock has a market cap of $3.56 billion, a P/E ratio of -49.33 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

FROG has been the subject of several research analyst reports. KeyCorp reiterated an “overweight” rating and issued a $46.00 price objective (up previously from $36.00) on shares of JFrog in a research note on Friday, February 14th. Barclays lifted their price objective on shares of JFrog from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Stifel Nicolaus raised their price target on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 14th. DA Davidson cut their price target on JFrog from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC increased their price objective on JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

Insider Activity at JFrog

In related news, CRO Tali Notman sold 75,635 shares of the business’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 transaction, the executive now owns 582,394 shares in the company, valued at $20,383,790. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic Simon sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $28.66, for a total transaction of $573,200.00. Following the sale, the director now directly owns 4,354,432 shares in the company, valued at $124,798,021.12. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 429,104 shares of company stock worth $15,084,429 over the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its holdings in shares of JFrog by 8.0% in the first quarter. Harbor Capital Advisors Inc. now owns 19,466 shares of the company’s stock worth $623,000 after acquiring an additional 1,442 shares during the period. Park Avenue Securities LLC boosted its stake in JFrog by 25.9% in the 1st quarter. Park Avenue Securities LLC now owns 8,750 shares of the company’s stock worth $280,000 after purchasing an additional 1,801 shares during the period. Procyon Advisors LLC increased its position in shares of JFrog by 10.7% during the first quarter. Procyon Advisors LLC now owns 11,347 shares of the company’s stock valued at $363,000 after buying an additional 1,097 shares during the period. IVC Wealth Advisors LLC purchased a new stake in shares of JFrog in the first quarter worth about $220,000. Finally, California State Teachers Retirement System boosted its position in shares of JFrog by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 80,898 shares of the company’s stock valued at $2,379,000 after acquiring an additional 439 shares during the period. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

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.