Amova Asset Management Americas Inc. Buys New Shares in Figma, Inc. $FIG

Key Points

• Amova Asset Management Americas purchased a new position of 209,225 shares of Figma (NYSE:FIG) in Q3, valued at about $10.84 million and representing roughly 0.05% of the company.
• Figma beat estimates in its latest quarter with EPS of $0.08 vs. ($0.20) expected and revenue of $303.78 million (up 40.1% YoY), but the company still reports a deeply negative net margin and trades around $29.59 with a $13.05 billion market cap.
• Analysts have a consensus rating of Hold with an average price target of $43.25, while insider activity is mixed—CEO Dylan Field sold 250,000 shares and a director bought 912,749 shares, leaving insiders with about 45.2% ownership.

Amova Asset Management Americas Inc. purchased a new position in shares of Figma, Inc. (NYSE:FIG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 209,225 shares of the company's stock, valued at approximately $10,844,000. Amova Asset Management Americas Inc. owned 0.05% of Figma at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Figma during the third quarter worth about $26,000. US Bancorp DE purchased a new position in Figma in the third quarter worth approximately $31,000. Montag A & Associates Inc. acquired a new position in Figma during the 3rd quarter worth approximately $33,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Figma in the 3rd quarter valued at approximately $39,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of Figma in the 3rd quarter valued at $53,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen raised Figma from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Piper Sandler reiterated an "overweight" rating and issued a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Royal Bank Of Canada cut their target price on Figma from $38.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 19th. Barclays upgraded Figma to a "neutral" rating in a research note on Thursday, January 8th. Finally, Morgan Stanley set a $44.00 price target on shares of Figma in a research note on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Figma has a consensus rating of "Hold" and an average price target of $43.25.

Figma Price Performance

Shares of Figma stock opened at $29.59 on Thursday. The firm's fifty day simple moving average is $29.56 and its 200-day simple moving average is $43.49. Figma, Inc. has a 12 month low of $19.85 and a 12 month high of $142.92. The stock has a market capitalization of $13.05 billion and a price-to-earnings ratio of -9.48.

Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.28. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The company had revenue of $303.78 million for the quarter. Figma's quarterly revenue was up 40.1% on a year-over-year basis.

Insider Buying and Selling

In other Figma news, CEO Dylan Field sold 250,000 shares of the company's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $34.66, for a total transaction of $8,665,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Phillips Reed acquired 912,749 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were bought at an average cost of $24.30 per share, with a total value of $22,179,800.70. Following the completion of the transaction, the director directly owned 1,466,852 shares in the company, valued at $35,644,503.60. This trade represents a 164.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,781,601 shares of company stock valued at $56,558,620 over the last quarter. 45.20% of the stock is currently owned by 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.

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