Clear Street Group Inc. Buys New Shares in Figma, Inc. $FIG

Key Points

• Clear Street Group Inc. disclosed a new fourth-quarter stake in Figma, buying 285,003 shares worth about $10.65 million, or roughly 0.07% of the company.
• Figma shares fell 4.1% to $18.55, well below both its 50-day moving average of $20.59 and 200-day average of $27.00, though the stock still has a market value of about $8.27 billion.
• The company posted stronger-than-expected quarterly results, with EPS of $0.10 versus estimates for a loss and revenue up 46.1% year over year to $333.44 million, while analysts currently rate the stock a consensus Hold.

Clear Street Group Inc. bought a new stake in Figma, Inc. (NYSE:FIG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 285,003 shares of the company's stock, valued at approximately $10,651,000. Clear Street Group Inc. owned about 0.07% of Figma as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FIG. NewEdge Advisors LLC bought a new position in Figma in the third quarter valued at $26,000. Concord Wealth Partners increased its stake in Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company's stock valued at $27,000 after acquiring an additional 680 shares during the last quarter. Harbour Investments Inc. increased its stake in Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company's stock valued at $27,000 after acquiring an additional 690 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Figma in the third quarter valued at $27,000. Finally, Sunbelt Securities Inc. bought a new position in Figma in the third quarter valued at $30,000.

Figma Trading Down 4.1%

Shares of NYSE:FIG opened at $18.55 on Friday. The stock's 50-day moving average price is $20.59 and its 200-day moving average price is $27.00. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92. The stock has a market capitalization of $8.27 billion and a P/E ratio of -5.41.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm had revenue of $333.44 million for the quarter. The firm's quarterly revenue was up 46.1% compared to the same quarter last year. As a group, research analysts predict that Figma, Inc. will post -0.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FIG shares. Royal Bank Of Canada reduced their target price on Figma from $31.00 to $28.00 and set a "sector perform" rating on the stock in a research note on Friday, May 15th. JPMorgan Chase & Co. reduced their price objective on Figma from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, May 15th. Wells Fargo & Company reduced their price objective on Figma from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. Morgan Stanley reduced their price objective on Figma from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 15th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Figma in a research note on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.63.

Insider Activity at Figma

In other news, CRO Shaunt Voskanian sold 87,510 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the sale, the executive directly owned 1,781,380 shares in the company, valued at approximately $40,989,553.80. This represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 327,046 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the sale, the chief technology officer owned 9,771,529 shares of the company's stock, valued at approximately $244,972,232.03. This represents a 3.24% decrease in their ownership of the stock. 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 a total of 699,037 shares of company stock valued at $17,149,692 in the last quarter. 45.20% of the stock is currently owned by company insiders.

About Figma

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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