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Simon Frederic, a director at JFrog Ltd (NASDAQ:FROG), has recently sold a significant portion of the company's ordinary shares, according to a filing with the Securities and Exchange Commission. The transactions, executed over two days, amounted to a total of $1,043,830. According to InvestingPro data, JFrog maintains impressive gross profit margins of 77% and holds more cash than debt on its balance sheet, suggesting strong financial fundamentals despite the insider sale.
On April 8, Frederic sold 10,303 shares at a weighted average price of $28.14, with prices ranging from $27.64 to $28.64. Additionally, 9,384 shares were sold at an average price of $29.20, with trades executed between $28.64 and $29.60. A smaller transaction of 313 shares occurred at an average price of $29.75, within a range of $29.64 to $29.80.
The following day, April 9, Frederic sold 2,100 shares at an average price of $30.34, with sale prices ranging from $30 to $30.79. The largest transaction on this day involved 12,900 shares sold at an average price of $31.54, with prices ranging from $31.06 to $31.85.
These sales were conducted under a pre-arranged trading plan, as noted in the filing. After these transactions, Frederic holds 4,339,432 shares of JFrog Ltd. With 13 analysts recently revising their earnings expectations upward and projections of profitability this year, investors seeking detailed insights can access comprehensive analysis through InvestingPro's exclusive research reports.
In other recent news, JFrog has announced a strategic integration with NVIDIA (NASDAQ:NVDA) to enhance the deployment of AI and machine learning models, emphasizing security and efficiency. This collaboration aims to streamline the process for developers by offering a unified solution with enterprise-grade security and governance controls. Additionally, JFrog's recent financial performance has led multiple analyst firms to revise their price targets for the company. DA Davidson raised its price target for JFrog to $50, maintaining a Buy rating due to the company's strong performance in cloud migrations and security adoption. Needham also increased its target to $46, highlighting JFrog's robust growth in Billings and Remaining Performance Obligations. Cantor Fitzgerald followed suit, raising its target to $46, citing JFrog's impressive fourth-quarter results, including significant gains in revenue and earnings per share. In corporate governance news, JFrog board member Jessica Neal has resigned, with Elisa Steele stepping in as Chair of the Compensation Committee. These developments reflect JFrog's ongoing strategic initiatives and its positive financial outlook as assessed by various analysts.
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