52,743 Shares in Figma, Inc. $FIG Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp opened a new position in Figma during the first quarter, buying 52,743 shares valued at about $1.115 million.
• Institutional interest in Figma remains active, with firms like Vanguard and Franklin Resources also disclosing new positions in recent quarters.
• Insiders have been selling shares: CEO Dylan Field sold 174,430 shares, and total insider sales over the last 90 days reached 733,309 shares worth $17.8 million.

Fifth Third Bancorp purchased a new stake in shares of Figma, Inc. (NYSE:FIG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 52,743 shares of the company's stock, valued at approximately $1,115,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in Figma in the third quarter worth $2,282,000. US Bancorp DE acquired a new stake in shares of Figma in the third quarter valued at $31,000. Blair William & Co. IL bought a new position in shares of Figma in the third quarter valued at about $460,000. Banque Cantonale Vaudoise bought a new position in shares of Figma in the third quarter valued at about $271,000. Finally, Franklin Resources Inc. acquired a new position in Figma during the 3rd quarter worth about $9,084,000.

Insider Activity

In other news, CEO Dylan Field sold 174,430 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.02, for a total transaction of $4,364,238.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,741 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total value of $469,274.64. Following the completion of the sale, the general counsel directly owned 987,986 shares of the company's stock, valued at approximately $24,739,169.44. This trade represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 733,309 shares of company stock valued at $17,824,756. Insiders own 32.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FIG. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research report on Friday, May 15th. Citigroup reduced their target price on shares of Figma from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday. Weiss Ratings reissued a "sell (e+)" rating on shares of Figma in a report on Tuesday, May 19th. Bank of America assumed coverage on shares of Figma in a report on Tuesday, July 7th. They issued a "buy" rating and a $30.00 price target for the company. Finally, BTIG Research started coverage on Figma in a report on Monday, April 13th. They set a "neutral" rating on the stock. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $32.56.

Figma Stock Performance

Shares of Figma stock opened at $21.18 on Friday. The firm has a fifty day moving average of $21.35 and a two-hundred day moving average of $23.49. The stock has a market capitalization of $9.44 billion and a price-to-earnings ratio of -6.17. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92.

Figma (NYSE:FIG - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business's quarterly revenue was up 46.1% on a year-over-year basis. As a group, research analysts forecast that Figma, Inc. will post -0.79 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding FIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Figma, Inc. (NYSE:FIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.