JFrog Ltd. (NASDAQ:FROG) Short Interest Up 6.8% in June

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. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.6% of the shares of the company are sold short.

JFrog Stock Performance

FROG traded down $1.44 during trading on Tuesday, reaching $36.00. The stock had a trading volume of 707,787 shares, compared to its average volume of 1,268,166. The business has a 50-day moving average of $35.21 and a 200-day moving average of $37.36. JFrog has a one year low of $21.38 and a one year high of $48.81. The stock has a market cap of $3.67 billion, a PE ratio of -76.59 and a beta of 0.96.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on FROG shares. Barclays started coverage on JFrog in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $50.00 target price for the company. UBS Group assumed coverage on JFrog in a research note on Wednesday, May 22nd. They set a “buy” rating and a $41.00 price objective for the company. Scotiabank decreased their price objective on JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of JFrog in a report on Tuesday, June 25th. Finally, KeyCorp cut their price target on JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JFrog currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.93.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 16,277 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $36.66, for a total transaction of $596,714.82. Following the completion of the sale, the chief technology officer now directly owns 6,697,242 shares of the company’s stock, valued at $245,520,891.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Yoav Landman sold 16,277 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $36.66, for a total transaction of $596,714.82. Following the transaction, the chief technology officer now owns 6,697,242 shares of the company’s stock, valued at approximately $245,520,891.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,325 shares of company stock valued at $9,029,830. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FROG. Arcadia Investment Management Corp MI bought a new position in JFrog during the 1st quarter valued at about $26,000. Frazier Financial Advisors LLC bought a new position in shares of JFrog during the 4th quarter worth approximately $35,000. Future Financial Wealth Managment LLC bought a new position in shares of JFrog during the 1st quarter worth approximately $44,000. Advisors Asset Management Inc. increased its stake in JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares in the last quarter. Finally, RiverPark Advisors LLC acquired a new position in JFrog during the 1st quarter valued at approximately $140,000. 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.