Yoav Landman, the Chief Technology Officer of JFrog Ltd (NASDAQ:FROG), a $3.48 billion market cap company with impressive 78% gross margins, recently sold 15,000 shares of the company. The sales, executed on December 12, 2024, were part of a pre-established trading plan under Rule 10b5-1, adopted on August 13, 2024. The shares were sold at an average price of $30.26, generating a total of approximately $453,900. According to InvestingPro analysis, JFrog currently appears undervalued based on its Fair Value estimate.
This transaction was conducted over multiple trades, with prices ranging from $29.85 to $30.42. Following the sale, Landman retains direct ownership of 6,582,242 shares in JFrog.
These trades were facilitated by a trading plan, allowing executives to sell shares at predetermined times, thereby avoiding potential accusations of insider trading.
In other recent news, JFrog Ltd. reported a robust third quarter in 2024, with total revenues reaching $109.1 million, marking a 23% increase year-over-year. The company's cloud revenue saw a significant surge of 38%, now constituting 39% of total revenues. Alongside these financial highlights, JFrog also announced the strategic acquisition of Qwak, which is expected to enhance their offerings in the upcoming year.
The company's user conference, SwampUp, was highlighted as a success, and the number of customers with annual recurring revenue over $100,000 increased to 966. Furthermore, customers exceeding $1 million in ARR grew by 53% to 46. Despite potential challenges in large-scale migration deals, JFrog projects Q4 revenue to be between $113.5 million and $114.5 million, with full-year guidance set at $425.9 million to $426.9 million.
In terms of future expectations, the company anticipates solid contributions from security solutions to revenue in 2025. However, analysts expressed concerns about achieving the full-year cloud growth target, estimating it might be closer to 38%. These recent developments underscore JFrog's continued growth and strategic direction, despite some concerns about future growth rates and margin pressures.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.