Roubaix Portfolio Expansion
Roubaix Capital Expands Holdings in ServiceTitan, JFrog, MEC, VPG, and Stevanato in Q1
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Key Points
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In JFrog, beyond Roubaix Capital's new stake, director Frederic Simon sold 120,000 shares on June 1 at an average price of $85.84, for about $10.3 million, reducing his position by 3.59%. Separately, CEO Shlomi Ben Haim sold 93,072 shares on June 8.
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ServiceTitan attracted analyst attention in the quarter, with Stifel Nicolaus setting a $125 price objective, KeyCorp reiterating an overweight rating, and Needham & Company reissuing a Buy rating with a $100 target.
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Mayville Engineering Company (MEC) remains highly concentrated among hedge funds, with 45.44% of the stock currently owned by hedge funds and other institutional investors.
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Stevanato Group saw notable diversification of holdings among peers: Conestoga Capital Advisors increased its stake to 8,491,751 shares worth about $116.8 million, and Norges Bank opened a new position in the stock.
Roubaix Capital LLC moved aggressively into several tech and industrial stocks in the first quarter, opening brand-new positions and sharply growing existing ones, according to Watchlist News. The firm's biggest new bets included software company JFrog at $4.5 million and ServiceTitan at $3.4 million.
The moves signal a clear shift toward small- and mid-cap growth names. Roubaix also nearly doubled its stake in drug delivery packaging firm Stevanato Group, boosting its position by 96.6% to 385,316 shares worth about $5.30 million.
Roubaix Opens Fresh Stakes in JFrog and ServiceTitan
Roubaix bought 95,944 shares of JFrog in Q1, worth roughly $4.5 million, according to Watchlist News. That stake now makes up about 2.1% of the fund's total portfolio. JFrog, which makes software tools for developers, trades on the Nasdaq under the ticker FROG.
In ServiceTitan, Roubaix picked up 53,720 shares valued at $3.4 million. Analysts backed the move. Stifel Nicolaus set a $125 price target on the stock. KeyCorp kept an overweight rating. Needham and Company issued a Buy rating with a $100 target, per Watchlist News.
JFrog Insiders Sell Millions as Roubaix Buys In
Even as Roubaix was buying JFrog shares, company insiders were selling. Director Frederic Simon sold 120,000 shares on June 1 at an average price of $85.84, taking in about $10.3 million, according to Watchlist News. That sale cut his position by 3.59%.
CEO Shlomi Ben Haim also sold 93,072 shares on June 8. Insider selling does not always signal trouble — executives often sell shares for personal financial reasons. Still, the timing stands out given the wave of institutional buying in the same period.
Roubaix Grows MEC and VPG Stakes by Double Digits
Roubaix grew its stake in Mayville Engineering Company by 44%, bringing its total to 210,657 shares valued at about $3.78 million, per Watchlist News. MEC is a contract manufacturer serving industries like agriculture and defense. Hedge funds and institutional investors now own 45.44% of the company's stock.
The firm also added to Vishay Precision Group, holding 160,961 shares worth about $6.99 million. That makes VPG Roubaix's sixth-largest position. Vishay Precision makes sensors and measurement tools used in industrial and medical settings.
Stevanato Draws Big Institutional Interest Beyond Roubaix
Roubaix was not alone in buying Stevanato Group this quarter. Conestoga Capital Advisors raised its stake to 8,491,751 shares worth about $116.8 million, according to Watchlist News. Norway's central bank, Norges Bank, also opened a brand-new position in the stock.
Roubaix's own Stevanato position grew 96.6% to 385,316 shares, now worth around $5.30 million. Stevanato makes glass vials and drug delivery systems used by pharmaceutical companies. The broad wave of buying suggests growing institutional confidence in the sector.
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