Coatue Management LLC Acquires Shares of 3,232,969 Figma, Inc. $FIG

Coatue Management LLC bought a new stake in shares of Figma, Inc. (NYSE:FIG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,232,969 shares of the company’s stock, valued at approximately $167,694,000. Coatue Management LLC owned approximately 0.78% of Figma at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capula Management Ltd acquired a new position in shares of Figma in the third quarter worth about $956,000. Centiva Capital LP acquired a new stake in Figma during the 3rd quarter valued at approximately $269,000. Circle Wealth Management LLC purchased a new stake in Figma during the 3rd quarter worth approximately $376,000. Bamco Inc. NY purchased a new stake in Figma during the 3rd quarter worth approximately $38,902,000. Finally, Brandywine Managers LLC acquired a new position in shares of Figma in the 3rd quarter valued at approximately $751,000.

Figma Stock Down 0.5%

FIG opened at $26.03 on Friday. The company’s 50-day moving average price is $28.22 and its 200 day moving average price is $41.31. Figma, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $142.92. The firm has a market cap of $11.48 billion and a price-to-earnings ratio of -8.34.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, February 18th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.28. The company had revenue of $303.78 million during the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The business’s quarterly revenue was up 40.1% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CEO Dylan Field sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $30.80, for a total transaction of $7,700,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brendan Mulligan sold 4,817 shares of the company’s stock in a transaction 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 transaction, the general counsel owned 830,461 shares of the company’s stock, valued at approximately $23,502,046.30. The trade was a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,967,427 shares of company stock worth $62,086,778. 45.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Figma in a report on Thursday, February 19th. Royal Bank Of Canada reduced their price objective on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus price target of $43.25.

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.