SUNNYVALE, CA—Tali Notman, Chief Revenue Officer of JFrog Ltd (NASDAQ:FROG), recently executed a significant stock transaction. According to a filing with the Securities and Exchange Commission, Notman sold 11,529 ordinary shares on December 2 at a price of $30.60 each, totaling approximately $352,787. JFrog, currently valued at $3.57 billion, maintains strong financial health according to InvestingPro data, with impressive gross profit margins of 78% and a solid balance sheet showing more cash than debt.
The transaction was conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) and was not a discretionary sale by Notman. Following this transaction, Notman holds 525,185 shares directly.
Investors often keep a close watch on insider transactions like these to gauge the confidence of company executives in their own stock.
In other recent news, JFrog Ltd. showcased a strong third quarter in 2024, with total revenues increasing by 23% to reach $109.1 million. The company's cloud revenue experienced a substantial 38% year-over-year growth, making up 39% of total revenues. JFrog's acquisition of Qwak, a strategic move expected to enhance their offerings, was also announced. Despite a cautious outlook for large-scale migration deals, the company remains optimistic about their future prospects.
In addition to these developments, JFrog's user conference, SwampUp, was reported as successful. The company's earnings call revealed that the number of customers with annual recurring revenue over $100,000 increased to 966, while customers exceeding $1 million in ARR grew by 53% to 46. However, analysts have expressed concerns about achieving the full-year cloud growth target, estimating it might be closer to 38%.
JFrog anticipates Q4 revenues to be between $113.5 million and $114.5 million, with full-year revenue guidance projected at $425.9 million to $426.9 million. These recent developments highlight JFrog's continued commitment to growth and innovation in the software supply chain management space.
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