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SUNNYVALE, CA—Yoav Landman, Chief Technology Officer of JFrog Ltd (NASDAQ:FROG), has sold a significant portion of his holdings in the company, according to a recent SEC filing. The transactions, executed under a pre-established Rule 10b5-1 trading plan, involved the sale of 30,889 ordinary shares for a total of approximately $1,117,237. JFrog, currently valued at $4 billion, has maintained impressive gross profit margins of 78% according to InvestingPro data.
The sales occurred in two separate transactions. On February 4, Landman sold 15,889 shares at a weighted average price of $36.15 per share. Two days later, on February 6, he sold an additional 15,000 shares at a weighted average price of $36.19 per share. The sales prices ranged from $36 to $36.58 per share. With the company’s earnings report due on February 13, investors can access comprehensive analysis and 10 additional key insights through InvestingPro’s detailed research reports.
Following these transactions, Landman retains ownership of 6,532,242 shares in JFrog. The sales were carried out as part of a trading plan adopted in August 2024, allowing for the systematic sale of shares over time.
JFrog Ltd, based in Sunnyvale, California, is a company specializing in prepackaged software services.
In other recent news, JFrog has been in the spotlight due to its financial performance and strategic moves. The company reported a 23% increase in total revenues in Q3 2024, amounting to $109.1 million, with a significant 38% year-over-year surge in cloud revenue, which now represents 39% of total revenues. Furthermore, JFrog’s Self-Managed products, which accounted for 61% of the company’s revenue in Q3 2024, are expected to see growth due to a pricing strategy adjustment.
Analysts from Needham and Barclays (LON:BARC) have offered their perspectives on these recent developments. Needham has raised its price target for JFrog from $36.00 to $39.00 while maintaining a Buy rating, citing the company’s expansion to include Security and MLOps as contributing factors. However, they warn of potential near-term volatility while waiting for management’s initial guidance for the 2025 calendar year.
On the other hand, Barclays maintains an overweight rating on JFrog, with a price target of $38.00. They believe the recent price increases on the company’s self-hosted Pro X and Enterprise X tiers could add at least $10 million to JFrog’s self-hosted revenues in the fiscal year 2025. These are all recent developments that investors should keep in mind while considering JFrog.
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