JFrog Ltd.'s stock /zigman2/quotes/220991554/composite FROG +11.65% started its public life by taking a big leap higher, as it opened 62.0% above its initial public offering price. The first trade for the Israel-based software company's stock was at $71.27 at 12.30 p.m. Eastern for 1.8 million shares, compared with the IPO price of $44, which was above the expected range of $39 to $41. The stock has since gained further, to trade up 75%. JFrog's public debut comes a busy week for IPOs, and on the same day shares of the largest-ever software IPO, Snowflake Inc. /zigman2/quotes/220991541/composite SNOW +7.42% , are expected to start trading. Despite the growing IPO supply, there is still strong demand from investors, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +3.70% has run up 25.6% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% has gained 9.2%.