Cerity Partners LLC Invests $28.96 Million in Figma, Inc. $FIG

Cerity Partners LLC acquired a new position in Figma, Inc. (NYSE:FIG) in the fourth quarter, HoldingsChannel reports. The fund acquired 774,981 shares of the company’s stock, valued at approximately $28,961,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in Figma by 157.2% in the fourth quarter. LPL Financial LLC now owns 163,514 shares of the company’s stock worth $6,111,000 after acquiring an additional 99,928 shares during the period. Franklin Resources Inc. lifted its stake in Figma by 157.0% in the fourth quarter. Franklin Resources Inc. now owns 450,137 shares of the company’s stock worth $16,822,000 after acquiring an additional 275,007 shares during the period. JPMorgan Chase & Co. lifted its stake in Figma by 119.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after acquiring an additional 3,615,198 shares during the period. Syon Capital LLC purchased a new stake in Figma in the fourth quarter worth about $6,469,000. Finally, Capital International Investors lifted its stake in Figma by 0.6% in the fourth quarter. Capital International Investors now owns 1,200,793 shares of the company’s stock worth $44,874,000 after acquiring an additional 7,073 shares during the period.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Figma in a research note on Wednesday, March 25th. They issued a “market perform” rating for the company. Wells Fargo & Company lowered their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. BTIG Research assumed coverage on shares of Figma in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Morgan Stanley lowered their price objective on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.63.

Figma Stock Performance

FIG stock opened at $19.78 on Thursday. The firm has a market cap of $8.81 billion and a price-to-earnings ratio of -5.77. The firm has a 50-day simple moving average of $20.66 and a two-hundred day simple moving average of $27.16. Figma, Inc. has a one year low of $16.60 and a one year high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million during 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. As a group, equities analysts predict that Figma, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Figma

In other Figma news, CAO Tyler Herb sold 1,850 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.40, for a total transaction of $48,840.00. Following the completion of the sale, the chief accounting officer directly owned 263,435 shares of the company’s stock, valued at approximately $6,954,684. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Kris Rasmussen sold 327,046 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the sale, the chief technology officer directly owned 9,771,529 shares of the company’s stock, valued at approximately $244,972,232.03. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 699,037 shares of company stock valued at $17,149,692. 45.20% of the stock is currently owned by corporate insiders.

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.