58,420,365 Shares in Figma, Inc. $FIG Bought by Greylock XIV GP LLC

Key Points

• Greylock XIV GP LLC acquired 58.4 million Figma shares worth approximately $1.06 billion, representing about 12.84% of the company and its entire reported investment portfolio.
• Figma reported stronger-than-expected quarterly results, with adjusted EPS of $0.08 versus estimates of a $0.22 loss and revenue of $370.1 million, up 48.2% year over year. However, the company remains unprofitable, with a negative net margin of 123.15%.
• Analyst sentiment is mixed: five analysts rate Figma a Buy, ten a Hold and one a Sell, producing a consensus Hold rating and an average price target of $32.22. Shares recently traded at $26.03, while insiders sold more than $33.7 million of stock in the last quarter.

Greylock XIV GP LLC bought a new position in Figma, Inc. (NYSE:FIG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 58,420,365 shares of the company's stock, valued at approximately $1,056,824,403,000. Figma accounts for 100.0% of Greylock XIV GP LLC's investment portfolio, making the stock its largest holding. Greylock XIV GP LLC owned approximately 12.84% of Figma as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fluent Financial LLC acquired a new stake in shares of Figma in the 2nd quarter valued at about $765,000. Valeo Financial Advisors LLC acquired a new position in shares of Figma during the second quarter worth about $203,000. Parallel Advisors LLC grew its holdings in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company's stock worth $25,000 after buying an additional 1,167 shares in the last quarter. J. Derek Lewis & Associates Inc. grew its holdings in shares of Figma by 58.6% during the first quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company's stock worth $429,000 after buying an additional 7,500 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Figma by 428.1% in the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company's stock valued at $88,377,000 after buying an additional 3,388,902 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FIG. Oppenheimer reaffirmed a "market perform" rating on shares of Figma in a research report on Thursday, June 25th. Bank of America started coverage on shares of Figma in a report on Tuesday, July 7th. They issued a "buy" rating and a $30.00 price objective on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Figma in a research report on Friday. Wells Fargo & Company reduced their target price on shares of Figma from $42.00 to $36.00 and set an "overweight" rating for the company in a report on Friday, June 26th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.22.

Figma Trading Up 4.2%

Shares of NYSE FIG opened at $26.03 on Wednesday. The firm has a market cap of $11.85 billion and a P/E ratio of -7.15. The business's 50 day moving average is $22.04 and its 200-day moving average is $22.56. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $78.00.

Figma (NYSE:FIG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.30. The business had revenue of $370.08 million for the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. Figma's revenue was up 48.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Analysts forecast that Figma, Inc. will post -0.75 EPS for the current year.

Insider Activity

In related news, CFO Praveer Melwani sold 40,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $26.63, for a total value of $1,065,200.00. Following the completion of the transaction, the chief financial officer owned 1,674,544 shares of the company's stock, valued at $44,593,106.72. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 196,397 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $25.53, for a total transaction of $5,014,015.41. Following the sale, the chief technology officer directly owned 9,234,587 shares of the company's stock, valued at $235,759,006.11. This represents a 2.08% decrease in their position. 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 quarter, insiders sold 1,354,072 shares of company stock worth $33,678,327. 32.26% of the stock is owned by 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.

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