Private Advisor Group LLC Purchases Shares of 38,266 Figma, Inc. $FIG

Private Advisor Group LLC purchased a new stake in shares of Figma, Inc. (NYSE:FIG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 38,266 shares of the company’s stock, valued at approximately $809,000.

Other institutional investors have also modified their holdings of the company. a16z Capital Management L.L.C. bought a new position in Figma during the third quarter valued at about $842,687,000. Viking Global Investors LP bought a new stake in Figma in the fourth quarter worth about $214,967,000. Durable Capital Partners LP acquired a new stake in Figma in the 3rd quarter valued at about $278,510,000. Thrive Capital Management LLC acquired a new stake in Figma in the 3rd quarter valued at about $228,034,000. Finally, Cosmic Management LLC bought a new position in shares of Figma during the 4th quarter valued at about $151,535,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on FIG. JPMorgan Chase & Co. lowered their price objective on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. BTIG Research began coverage on Figma in a research note on Monday, April 13th. They set a “neutral” rating for the company. Piper Sandler restated an “overweight” rating and issued a $30.00 target price on shares of Figma in a report on Thursday, June 25th. Bank of America began coverage on Figma in a research report on Tuesday, July 7th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Figma in a research note on Wednesday, June 17th. They set a “buy” rating and a $36.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.67.

Figma Stock Up 0.5%

FIG stock opened at $23.76 on Wednesday. The company has a 50 day moving average of $21.00 and a two-hundred day moving average of $24.25. The company has a market cap of $10.59 billion and a price-to-earnings ratio of -6.93. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92.

Figma (NYSE:FIG) last posted 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. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business had revenue of $333.44 million for the quarter. The business’s quarterly revenue was up 46.1% on a year-over-year basis. On average, research analysts anticipate that Figma, Inc. will post -0.8 EPS for the current year.

Insider Activity

In other news, CFO Praveer Melwani sold 30,460 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.48, for a total transaction of $623,820.80. Following the completion of the sale, the chief financial officer directly owned 1,711,526 shares of the company’s stock, valued at $35,052,052.48. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Figma stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.62, for a total value of $177,929.98. Following the sale, the executive owned 1,764,672 shares of the company’s stock, valued at approximately $36,387,536.64. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 733,309 shares of company stock valued at $17,824,756. 32.26% of the stock is currently owned by company insiders.

Figma Company 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.