Rit Capital Partners PLC Purchases Shares of 50,000 Figma, Inc. $FIG

Rit Capital Partners PLC acquired a new position in Figma, Inc. (NYSE:FIG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 50,000 shares of the company’s stock, valued at approximately $2,592,000. Figma comprises about 0.4% of Rit Capital Partners PLC’s investment portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Figma in the 3rd quarter valued at about $26,000. SOA Wealth Advisors LLC. acquired a new stake in Figma during the 3rd quarter valued at approximately $39,000. Tripletail Wealth Management LLC bought a new position in Figma during the 3rd quarter worth approximately $53,000. CoreCap Advisors LLC acquired a new position in shares of Figma in the 3rd quarter worth approximately $57,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Figma in the 3rd quarter valued at $62,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FIG. The Goldman Sachs Group assumed coverage on shares of Figma in a research report on Monday, January 12th. They set a “neutral” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Morgan Stanley decreased their target price on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Stifel Nicolaus assumed coverage on Figma in a research note on Wednesday, January 7th. They issued a “hold” rating and a $40.00 price target on the stock. Finally, Wells Fargo & Company raised shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.75.

Insider Transactions at Figma

In other news, General Counsel Brendan Mulligan sold 80,934 shares of Figma stock in a transaction on Monday, November 10th. The stock was sold at an average price of $43.47, for a total value of $3,518,200.98. Following the completion of the transaction, the general counsel directly owned 913,181 shares in the company, valued at approximately $39,695,978.07. The trade was a 8.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dylan Field sold 3,029,063 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $37.30, for a total value of $112,984,049.90. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,380,758 shares of company stock worth $202,878,962 in the last ninety days.

Figma Stock Performance

FIG opened at $24.13 on Tuesday. Figma, Inc. has a 1-year low of $23.99 and a 1-year high of $142.92. The firm has a market capitalization of $10.04 billion and a P/E ratio of -9.00. The business’s fifty day simple moving average is $34.88.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The firm had revenue of $274.17 million during the quarter. During the same quarter in the previous year, the company earned $0.04 EPS. The business’s revenue was up 38.0% compared to the same quarter last year.

Figma Company Profile

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.