ARK Investment Management LLC Acquires Shares of 586,023 Figma, Inc. $FIG

Key Points

• ARK Investment Management acquired a new 586,023-share stake in Figma (NYSE:FIG) worth about $30.4 million, representing roughly 0.14% ownership per its latest 13F filing.
• Insider activity was notable: Director Andrew Phillips Reed bought 912,749 shares at $24.30 (~$22.18M), while insiders sold 1.78M shares (~$56.6M) in the past 90 days, and corporate insiders now own 45.20% of the company.
• Figma reported revenue of $303.8M (up 40.1% YoY) and EPS of $0.08 beating estimates, but still has negative net margin and ROE; analysts are mixed with an average rating of "Hold" and an average price target of $43.25.

ARK Investment Management LLC acquired a new stake in shares of Figma, Inc. (NYSE:FIG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 586,023 shares of the company's stock, valued at approximately $30,397,000. ARK Investment Management LLC owned 0.14% of Figma as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in Figma during the 3rd quarter valued at $26,000. US Bancorp DE purchased a new stake in shares of Figma during the third quarter worth about $31,000. Montag A & Associates Inc. purchased a new stake in shares of Figma during the third quarter worth about $33,000. SOA Wealth Advisors LLC. bought a new stake in shares of Figma in the third quarter worth about $39,000. Finally, Tripletail Wealth Management LLC purchased a new position in Figma during the 3rd quarter valued at about $53,000.

Figma Price Performance

Shares of Figma stock opened at $29.59 on Thursday. Figma, Inc. has a 1 year low of $19.85 and a 1 year high of $142.92. The firm has a market cap of $13.05 billion and a price-to-earnings ratio of -9.48. The company has a 50-day moving average of $29.56 and a 200 day moving average of $43.49.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $303.78 million for the quarter. The business's revenue was up 40.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FIG shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Figma in a report on Monday, December 29th. Barclays raised Figma to a "neutral" rating in a research note on Thursday, January 8th. Piper Sandler reissued an "overweight" rating and set a $35.00 price objective on shares of Figma in a research report on Thursday, February 19th. Stifel Nicolaus dropped their target price on shares of Figma from $40.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of Figma from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $43.25.

Insider Activity at Figma

In related news, Director Andrew Phillips Reed acquired 912,749 shares of the stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $24.30 per share, for a total transaction of $22,179,800.70. Following the completion of the purchase, the director owned 1,466,852 shares of the company's stock, valued at $35,644,503.60. This represents a 164.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dylan Field sold 250,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $34.66, for a total value of $8,665,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,781,601 shares of company stock valued at $56,558,620 in the last 90 days. Corporate insiders own 45.20% 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.

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