Figma, Inc. $FIG Shares Bought by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC grew its holdings in shares of Figma, Inc. (NYSE:FIG) by 18.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,694 shares of the company’s stock after purchasing an additional 22,095 shares during the period. Figma makes up approximately 1.5% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Taylor Frigon Capital Management LLC’s holdings in Figma were worth $2,915,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FIG. Amova Asset Management Americas Inc. increased its stake in Figma by 641.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company’s stock valued at $31,031,000 after buying an additional 1,269,900 shares during the period. Greylock XIV GP LLC bought a new stake in shares of Figma during the 2nd quarter worth about $1,056,824,403. Rokos Capital Management LLP bought a new stake in shares of Figma during the 1st quarter worth about $4,414,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Figma in the 1st quarter worth approximately $3,429,000. Finally, Entropy Technologies LP acquired a new stake in shares of Figma in the 1st quarter worth approximately $2,263,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Figma from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings raised Figma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Morgan Stanley set a $33.00 target price on Figma in a report on Thursday, August 6th. Wells Fargo & Company cut their target price on Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.56.

Figma Trading Up 2.4%

Shares of Figma stock opened at $24.69 on Friday. The company’s 50-day moving average price is $23.67 and its two-hundred day moving average price is $22.12. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $55.48. The stock has a market cap of $11.24 billion, a PE ratio of -6.78 and a beta of 1.32.

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

Insiders Place Their Bets

In related news, CAO Tyler Herb sold 1,418 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $21.62, for a total transaction of $30,657.16. Following the completion of the sale, the chief accounting officer directly owned 246,130 shares in the company, valued at approximately $5,321,330.60. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.39, for a total transaction of $316,740.25. Following the sale, the insider owned 786,700 shares of the company’s stock, valued at $19,974,313. The trade was a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,335,565 shares of company stock worth $34,762,393. Company insiders own 32.26% of the company’s stock.

Figma Profile

Figma, Inc (NYSE: FIG) develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.

The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.