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SUNNYVALE, CA—Shlomi Ben Haim, the Chief Executive Officer of JFrog Ltd (NASDAQ:FROG), recently sold a significant portion of his company’s stock, according to a filing with the Securities and Exchange Commission. The software development company, currently valued at $3.81 billion, has demonstrated robust financial health with impressive gross margins of 77% and revenue growth of 22.5% over the last twelve months, according to InvestingPro data. The transactions, executed on March 7, involved the sale of a total of 34,724 shares valued at approximately $1.19 million.
The shares were sold at prices ranging from $33.69 to $34.72 per share. Following these transactions, Ben Haim retains ownership of 4,947,530 shares in the company. The sales were conducted under a Rule 10b5-1 trading plan, which Ben Haim adopted on February 28, 2024.
In other recent news, JFrog Ltd. reported fourth-quarter results that exceeded analyst expectations, with adjusted earnings per share reaching $0.19, surpassing the consensus estimate of $0.14. The company’s revenue for the quarter was $116.1 million, marking a 19% increase year-over-year and exceeding Wall Street’s forecast of $114.25 million. JFrog’s cloud revenue also saw significant growth, rising 37% year-over-year to $49.4 million, now accounting for 43% of total revenue.
In a separate development, JFrog announced a collaboration with NVIDIA (NASDAQ:NVDA) to enhance the deployment of AI and machine learning models, emphasizing security and efficiency. This integration aims to simplify the deployment process for developers and improve security measures. Analyst firms have responded positively to JFrog’s performance, with DA Davidson raising its price target to $50 and Needham and Cantor Fitzgerald both increasing their targets to $46, all maintaining a Buy rating.
These firms cite strong quarterly results and optimistic future guidance as reasons for their increased confidence. JFrog’s financial guidance for 2025 includes a revenue forecast of $499-503 million, slightly above consensus expectations. This series of positive developments highlights JFrog’s growing momentum in the software supply chain and security markets.
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