Figma, Inc. $FIG Shares Acquired by SC US Ttgp LTD.

SC US Ttgp LTD. lifted its holdings in Figma, Inc. (NYSE:FIG) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,728,171 shares of the company’s stock after buying an additional 1,466,851 shares during the quarter. Figma accounts for 6.1% of SC US Ttgp LTD.’s portfolio, making the stock its 6th biggest holding. SC US Ttgp LTD. owned 0.06% of Figma worth $565,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FIG. Vanguard Group Inc. purchased a new position in Figma in the third quarter worth $2,282,000. US Bancorp DE acquired a new stake in Figma in the third quarter valued at $31,000. Blair William & Co. IL purchased a new stake in shares of Figma during the 3rd quarter worth $460,000. Banque Cantonale Vaudoise purchased a new stake in shares of Figma during the 3rd quarter worth $271,000. Finally, Franklin Resources Inc. acquired a new position in shares of Figma during the 3rd quarter worth $9,084,000.

Figma Stock Up 5.9%

Figma stock opened at $21.18 on Friday. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92. The firm’s 50-day simple moving average is $21.35 and its 200 day simple moving average is $23.49. The firm has a market capitalization of $9.44 billion and a PE ratio of -6.17.

Figma (NYSE:FIG) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million for the quarter. Figma’s revenue for the quarter was up 46.1% on a year-over-year basis. On average, research analysts expect that Figma, Inc. will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Kris Rasmussen sold 327,046 shares of Figma 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 completion of the transaction, the chief technology officer directly owned 9,771,529 shares in the company, valued at $244,972,232.03. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 8,629 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.62, for a total value of $177,929.98. Following the completion of the sale, the executive directly owned 1,764,672 shares in the company, valued at approximately $36,387,536.64. The trade was a 0.49% 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. Over the last ninety days, insiders have sold 733,309 shares of company stock valued at $17,824,756. 32.26% of the stock is owned by company insiders.

Analyst Ratings Changes

FIG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Bank of America began coverage on shares of Figma in a research report on Tuesday, July 7th. They set a “buy” rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Morgan Stanley reduced their price target on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 15th. Finally, Wells Fargo & Company decreased their price target on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Five research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.56.

Figma 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.