Arrowstreet Capital Limited Partnership Invests $36.60 Million in Figma, Inc. $FIG

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Figma, Inc. (NYSE:FIG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,731,328 shares of the company's stock, valued at approximately $36,600,000. Arrowstreet Capital Limited Partnership owned 0.39% of Figma as of its most recent SEC filing.

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

Figma Stock Performance

Shares of NYSE FIG opened at $24.38 on Wednesday. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $142.92. The company has a market cap of $10.86 billion and a PE ratio of -7.11. The business has a 50-day simple moving average of $21.34 and a two-hundred day simple moving average of $23.20.

Figma (NYSE:FIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.27. The firm had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business's quarterly revenue was up 46.1% compared to the same quarter last year. On average, sell-side analysts predict that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on FIG shares. Stifel Nicolaus set a $25.00 target price on shares of Figma in a research report on Friday, May 15th. Morgan Stanley dropped their price objective on shares of Figma from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 15th. Royal Bank Of Canada cut their price objective on shares of Figma from $28.00 to $22.00 and set a "sector perform" rating on the stock in a report on Thursday, June 25th. BTIG Research assumed coverage on shares of Figma in a research note on Monday, April 13th. They issued a "neutral" rating for the company. Finally, Piper Sandler restated an "overweight" rating and set a $30.00 target price on shares of Figma in a report on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.56.

Insider Activity at Figma

In other Figma news, CAO Tyler Herb sold 1,850 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.40, for a total transaction of $48,840.00. Following the sale, the chief accounting officer directly owned 263,435 shares of the company's stock, valued at approximately $6,954,684. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Praveer Melwani sold 30,460 shares of Figma stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.48, for a total value of $623,820.80. Following the transaction, the chief financial officer owned 1,711,526 shares of the company's stock, valued at $35,052,052.48. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 733,309 shares of company stock worth $17,824,756 in the last three months. Company insiders own 32.26% 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.

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.