Citizens Financial Group Inc. RI Purchases Shares of 162,225 Figma, Inc. $FIG

Key Points

• Citizens Financial Group disclosed a new first-quarter position in Figma, buying 162,225 shares valued at about $3.43 million.
• Figma’s latest quarterly results showed revenue of $333.44 million, up 46.1% year over year, and adjusted EPS of $0.10, which beat expectations.
• Despite the growth, sentiment is mixed: analysts currently rate the stock Hold on average with a $32.67 price target, while insiders have been selling shares in recent months.

Citizens Financial Group Inc. RI acquired a new position in Figma, Inc. (NYSE:FIG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 162,225 shares of the company's stock, valued at approximately $3,429,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in Figma in the third quarter worth $26,000. DV Equities LLC bought a new stake in shares of Figma in the 4th quarter worth about $26,000. Concord Wealth Partners boosted its stake in shares of Figma by 1,446.8% during the 4th quarter. Concord Wealth Partners now owns 727 shares of the company's stock worth $27,000 after purchasing an additional 680 shares during the period. Harbour Investments Inc. grew its holdings in Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company's stock valued at $27,000 after purchasing an additional 690 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Figma in the 3rd quarter worth about $27,000.

Figma Stock Performance

Figma stock opened at $21.10 on Monday. The company has a market capitalization of $9.40 billion and a PE ratio of -6.15. The company has a 50 day moving average price of $20.79 and a 200-day moving average price of $24.46. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $142.92.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.10 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 return on equity of 98.51% and a negative net margin of 123.83%.The business's quarterly revenue was up 46.1% compared to the same quarter last year. On average, analysts forecast that Figma, Inc. will post -0.8 earnings per share for the current year.

Insider Transactions at Figma

In other news, CRO Shaunt Voskanian sold 8,629 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.62, for a total value of $177,929.98. Following the completion of the transaction, the executive directly owned 1,764,672 shares in the company, valued at $36,387,536.64. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 30,460 shares of Figma stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.48, for a total value of $623,820.80. Following the sale, the chief financial officer directly owned 1,711,526 shares of the company's stock, valued at $35,052,052.48. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 733,309 shares of company stock worth $17,824,756. 32.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FIG has been the subject of several recent analyst reports. Royal Bank Of Canada dropped their target price on Figma from $28.00 to $22.00 and set a "sector perform" rating for the company in a research report on Thursday, June 25th. BTIG Research initiated coverage on Figma in a report on Monday, April 13th. They issued a "neutral" rating on the stock. Oppenheimer reissued a "market perform" rating on shares of Figma in a research note on Thursday, June 25th. Wells Fargo & Company dropped their price objective on 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 price objective on shares of Figma in a research report on Thursday, June 25th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Figma currently has an average rating of "Hold" and an average price target of $32.67.

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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