25 of 27 durable members are active; the relationship is active now.
What would weaken it: This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Active members confirm the current move. Quiet members are the next breadth test—not proof that the whole relationship is active.
| TICKER | Company | Role now | Today | Trader read |
|---|---|---|---|---|
| KVYO | Klaviyo, Inc. Series A | Quiet / lagging | -13.7% | Has not joined the current move; watch for follow-through or divergence. |
| PATH | UiPath, Inc. | Quiet / lagging | +1.3% | Has not joined the current move; watch for follow-through or divergence. |
| CLBT | Cellebrite DI Ltd. | Participating | -1.1% | Confirming the current relationship move. |
| IOT | Samsara Inc. | Quiet / lagging | -1.3% | Has not joined the current move; watch for follow-through or divergence. |
| OKTA | Okta, Inc. | Quiet / lagging | -2.4% | Has not joined the current move; watch for follow-through or divergence. |
| GTLB | GitLab Inc. | Quiet / lagging | -1.3% | Has not joined the current move; watch for follow-through or divergence. |
| RBRK | Rubrik, Inc. | Quiet / lagging | -0.2% | Has not joined the current move; watch for follow-through or divergence. |
| ESTC | Elastic N.V. | Quiet / lagging | +0.4% | Has not joined the current move; watch for follow-through or divergence. |
| NTNX | Nutanix, Inc. | Quiet / lagging | -1.3% | Has not joined the current move; watch for follow-through or divergence. |
| PCOR | Procore Technologies, Inc. | Quiet / lagging | +0.1% | Has not joined the current move; watch for follow-through or divergence. |
| PEGA | Pegasystems Inc. | Quiet / lagging | -0.4% | Has not joined the current move; watch for follow-through or divergence. |
| AVPT | AvePoint, Inc. | Quiet / lagging | -4.7% | Has not joined the current move; watch for follow-through or divergence. |
| NICE | NICE Ltd | Quiet / lagging | -2.5% | Has not joined the current move; watch for follow-through or divergence. |
| TTAN | ServiceTitan, Inc. | Quiet / lagging | -1.1% | Has not joined the current move; watch for follow-through or divergence. |
| TENB | Tenable Holdings, Inc. | Quiet / lagging | +0.5% | Has not joined the current move; watch for follow-through or divergence. |
| FIG | Figma, Inc. | Leader | -14.8% | Most active member in this snapshot. |
| DDOG | Datadog, Inc. | Participating | -19.1% | Confirming the current relationship move. |
| SNOW | Snowflake Inc. | Quiet / lagging | +0.4% | Has not joined the current move; watch for follow-through or divergence. |
| FROG | JFrog Ltd. | Quiet / lagging | -1.7% | Has not joined the current move; watch for follow-through or divergence. |
| DT | Dynatrace, Inc. | Quiet / lagging | -3.9% | Has not joined the current move; watch for follow-through or divergence. |
| SAIL | SailPoint, Inc. | Quiet / lagging | -0.6% | Has not joined the current move; watch for follow-through or divergence. |
| ZS | Zscaler, Inc. | Quiet / lagging | +0.6% | Has not joined the current move; watch for follow-through or divergence. |
| PANW | Palo Alto Networks, Inc. | Quiet / lagging | -0.8% | Has not joined the current move; watch for follow-through or divergence. |
| VRNS | Varonis Systems, Inc. | Participating | -2.2% | Confirming the current relationship move. |
Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across DDOG, FIG, FROG, IOT, KVYO, NTSK, PATH, PCOR, RBRK, SAIL, SNOW, TENB, TTAN, TWLO, VRNS.
“Our research and development expenses as a percentage of revenue of 98% for the year ended December 31, 2025, was primarily driven by the stock-based compensation expense and related employer payroll taxes for RSUs in which the performance-based and service-based vesting conditions had been satisfied in connection with the IPO.”
FIG 10-K
“Other Income, (Loss), Net Other income, (loss), net consists of interest income, primarily due to income earned on money market funds included in cash and cash equivalents and on marketable securities, partially offset by interest expense on the Notes and amortization of premiums on our marketable securities.”
DDOG 10-Q
“These investments do not have readily determinable fair values and are measured in accordance with the measurement alternative at cost, less impairment, if any, plus or minus changes resulting from observable price changes from orderly transactions for the identical or a similar investment of the same issuer in the period of occurrence and are classified within Level 3 in the fair value hierarchy.”
FIG 10-K
Filing-linked companies outside the group, ranked as confirmation candidates. A relationship is evidence of exposure—not proof that the outsider will move.
PANWcompetitor · Moving with the group now · 115 min observed
Filing receipt · CRWD / PANW
“Our main competitors fall into four categories: • large companies that incorporate security features in their products, such as Cisco Systems, Inc.”
PANW · competitor
GTLBcompetitor · Moving with the group now · 115 min observed
Filing receipt · TEAM / GTLB
“We also compete with DevOps product collections and point solutions from vendors such as Atlassian, JFrog, and Harness.”
GTLB · competitor
SAILpartner · Moving with the group now · 115 min observed
Filing receipt · NOW / SAIL
“Additionally, our technology alliance partners help us extend our reach throughout a customer’s IT environment with integrations with products like Amazon Web Services (…”
SAIL · partner
IOTcustomer · Not moving with the group now
Filing receipt · AMZN / IOT
“If Amazon decided to compete with us and did not allow us to renew our commercial agreement, this may have a significant impact on our solution and would require that we…”
IOT · customer
FROGpartner · Not moving with the group now
Filing receipt · MSFT / FROG
“Many companies address only certain parts of the DevOps cycle and may compete with a limited set of JFrog offerings, including Microsoft’s GitHub, GitLab, Cloudsmith, an…”
FROG · partner