Ghisallo Capital Management LLC Invests $10.37 Million in Figma, Inc. $FIG

Ghisallo Capital Management LLC acquired a new position in Figma, Inc. (NYSE:FIG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 200,000 shares of the company’s stock, valued at approximately $10,374,000.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new position in Figma in the third quarter valued at about $26,000. US Bancorp DE purchased a new position in Figma in the third quarter worth about $31,000. Montag A & Associates Inc. bought a new stake in shares of Figma during the 3rd quarter valued at about $33,000. SOA Wealth Advisors LLC. bought a new position in shares of Figma in the 3rd quarter worth approximately $39,000. Finally, Tripletail Wealth Management LLC bought a new position in shares of Figma in the 3rd quarter worth approximately $53,000.

Insider Transactions at Figma

In other Figma news, CTO Kris Rasmussen sold 179,331 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $29.80, for a total transaction of $5,344,063.80. Following the completion of the transaction, the chief technology officer owned 10,169,178 shares in the company, valued at $303,041,504.40. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Brendan Mulligan sold 4,817 shares of Figma stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.30, for a total value of $136,321.10. Following the completion of the sale, the general counsel directly owned 830,461 shares in the company, valued at approximately $23,502,046.30. The trade was a 0.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,967,427 shares of company stock valued at $62,086,778. 45.20% of the stock is owned by insiders.

Figma Stock Performance

FIG opened at $26.03 on Friday. The stock has a market capitalization of $11.48 billion and a price-to-earnings ratio of -8.34. The company has a fifty day moving average of $28.22 and a 200 day moving average of $41.51. Figma, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.28. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The business had revenue of $303.78 million for the quarter. The company’s quarterly revenue was up 40.1% on a year-over-year basis.

Analysts Set New Price Targets

FIG has been the topic of a number of research reports. The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Royal Bank Of Canada reduced their price objective on Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, February 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Figma in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.25.

About Figma

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.