SUNNYVALE, CA—JFrog Ltd (NASDAQ:FROG), a $3.4 billion market cap software company currently showing strong financial health according to InvestingPro analysis, has disclosed in a recent SEC filing that Tali Notman, the company's Chief Revenue Officer, sold a total of 10,791 ordinary shares. The transactions, executed on December 9, 2024, were conducted at an average price of $31.03 per share, amounting to a total of $334,844.
The sale was conducted under a Rule 10b5-1 trading plan, which Notman adopted earlier this year on March 7. This plan allows company insiders to set up a predetermined schedule for selling stocks, helping them avoid potential accusations of insider trading. The transaction comes as JFrog maintains impressive gross profit margins of 78% and has achieved 24.45% revenue growth over the last twelve months.
Following this transaction, Notman retains ownership of 514,394 shares in JFrog. The shares were sold in multiple trades with prices ranging between $30.70 and $31.51, with the reported price reflecting the weighted average sale price.
Investors and interested parties can request detailed information about the number of shares sold at each separate sale price from the company or the SEC.
In other recent news, JFrog Ltd. reported a robust third quarter in 2024, noting a 23% increase in total revenues to $109.1 million. The company's cloud revenue saw a considerable 38% year-over-year increase, now making up 39% of the total revenues. In addition to these financial highlights, JFrog also announced the strategic acquisition of Qwak, which is projected to enhance their offerings, and the success of their user conference, SwampUp.
The company anticipates Q4 revenues between $113.5 million and $114.5 million, with full-year guidance set at $425.9 million to $426.9 million. However, it maintains a cautious outlook for 2025, particularly regarding cloud migrations and security deals. Despite this, JFrog is focusing on transitioning monthly cloud customers to annual contracts to reduce revenue volatility.
These recent developments demonstrate JFrog's continued growth and strong performance in the cloud segment. The company's focus on innovation, particularly in security and AI through their partnership with GitHub, positions it well to meet the evolving needs of its customers.
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