Employees Retirement System of Texas Purchases Shares of 37,237 Figma, Inc. $FIG

Employees Retirement System of Texas purchased a new stake in Figma, Inc. (NYSE:FIG) during the 4th quarter, Holdings Channel reports. The fund purchased 37,237 shares of the company’s stock, valued at approximately $1,392,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. SC US Ttgp LTD. purchased a new stake in shares of Figma in the third quarter valued at about $1,310,305,000. ICONIQ Capital LLC purchased a new stake in shares of Figma in the third quarter valued at about $1,108,879,000. a16z Capital Management L.L.C. purchased a new stake in shares of Figma in the third quarter valued at about $842,687,000. Baillie Gifford & Co. lifted its holdings in shares of Figma by 93.8% in the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after purchasing an additional 2,789,986 shares in the last quarter. Finally, Durable Capital Partners LP purchased a new stake in shares of Figma in the third quarter valued at about $278,510,000.

Figma Stock Performance

Shares of FIG opened at $21.33 on Thursday. The company has a market capitalization of $9.51 billion and a price-to-earnings ratio of -6.22. The company’s 50 day simple moving average is $20.67 and its 200 day simple moving average is $28.37. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. Figma’s revenue for the quarter was up 46.1% compared to the same quarter last year. Equities analysts expect that Figma, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on FIG. Oppenheimer began coverage on shares of Figma in a report on Wednesday, March 25th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Royal Bank Of Canada reduced their price objective on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Friday, May 15th. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research note on Friday, May 15th. Finally, Morgan Stanley reduced their price objective on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.63.

Insiders Place Their Bets

In other Figma news, General Counsel Brendan Mulligan sold 18,741 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64. Following the transaction, the general counsel owned 987,986 shares of the company’s stock, valued at $24,739,169.44. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 327,046 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the transaction, the chief technology officer directly owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 537,099 shares of company stock valued at $14,339,078 over the last quarter. Company insiders own 45.20% of the company’s stock.

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.