SUNNYVALE, Calif.—Sela Yossi, a director at JFrog Ltd (NASDAQ:FROG), has sold 25,000 shares of the company's stock, according to a recent SEC filing. The transaction, which took place on December 6, was executed at a weighted average price of $31.29 per share, totaling approximately $782,250. The software company, currently valued at $3.38 billion, has demonstrated strong financial performance with impressive gross profit margins of 78% and revenue growth of 24.45% over the last twelve months.
Following this sale, Yossi retains direct ownership of 330,129 shares in the software company. The transaction was completed through multiple trades at prices ranging from $31 to $31.39 per share. According to InvestingPro analysis, JFrog currently appears undervalued based on its Fair Value estimate, with 7 analysts recently revising their earnings expectations upward.
JFrog, known for its software solutions, continues to see active trading among its executives, with this latest move reflecting ongoing portfolio adjustments by its board members. The company maintains a strong financial health rating according to InvestingPro, which offers detailed insights through its comprehensive Pro Research Report, available for over 1,400 US stocks.
In other recent news, JFrog Ltd. reported a robust third quarter in 2024, with total revenues climbing by 23% to $109.1 million. A significant highlight was the surge in cloud revenue, which increased by 38% year-over-year, now making up 39% of the total revenues. This growth has been accompanied by a successful user conference, SwampUp, and the strategic acquisition of Qwak, which is anticipated to enhance JFrog's offerings.
Despite a cautious outlook for large-scale migration deals in the coming year, the company projects Q4 revenues to be between $113.5 million and $114.5 million, with full-year guidance set at $425.9 million to $426.9 million. Furthermore, cloud revenue growth is expected to be around 40% for the full year of 2024.
JFrog's recent developments also include the integration of advanced security features and AI capabilities through a partnership with GitHub. The company has successfully secured three significant deals in Q3, indicating a strong demand for their platform. However, some analysts have expressed concerns about achieving the full-year cloud growth target, estimating it might be closer to 38%.
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