Royal Bank of Canada Has $2 Million Stake in Figma, Inc. $FIG

Royal Bank of Canada boosted its position in shares of Figma, Inc. (NYSE:FIG) by 37.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,704 shares of the company’s stock after purchasing an additional 25,957 shares during the period. Royal Bank of Canada’s holdings in Figma were worth $2,002,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FIG. a16z Capital Management L.L.C. purchased a new position in shares of Figma during the third quarter valued at $842,687,000. Viking Global Investors LP acquired a new stake in Figma during the 4th quarter worth about $214,967,000. Durable Capital Partners LP acquired a new stake in Figma during the 3rd quarter worth about $278,510,000. Thrive Capital Management LLC purchased a new position in Figma during the 3rd quarter valued at about $228,034,000. Finally, Cosmic Management LLC purchased a new position in Figma during the 4th quarter valued at about $151,535,000.

Figma Price Performance

FIG opened at $25.02 on Tuesday. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $80.75. The business has a 50-day moving average of $21.93 and a 200-day moving average of $22.58. The company has a market capitalization of $11.39 billion and a PE ratio of -6.87.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The business had revenue of $370.08 million during the quarter. During the same period in the previous year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. On average, equities research analysts expect that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FIG shares. Bank of America began coverage on shares of Figma in a research report on Tuesday, July 7th. They issued a “buy” rating and a $30.00 price target for the company. Citigroup boosted their price objective on shares of Figma from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Figma in a research report on Thursday, August 6th. Finally, Stifel Nicolaus set a $25.00 target price on shares of Figma in a research note on Friday, May 15th. Five equities research 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. According to data from MarketBeat.com, Figma has an average rating of “Hold” and a consensus price target of $32.22.

Insider Transactions at Figma

In other news, CTO Kris Rasmussen sold 196,397 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.53, for a total transaction of $5,014,015.41. Following the transaction, the chief technology officer owned 9,234,587 shares in the company, valued at approximately $235,759,006.11. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of Figma stock in a transaction on Monday, August 10th. The shares were sold at an average price of $25.39, for a total transaction of $316,740.25. Following the completion of the sale, the insider directly owned 786,700 shares of the company’s stock, valued at approximately $19,974,313. The trade was a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,354,072 shares of company stock valued at $33,678,327. Insiders own 32.26% of the company’s stock.

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.