Figma, Inc. $FIG Shares Bought by SC US Ttgp LTD.

Key Points

• SC US Ttgp LTD. increased its Figma stake by 5.8% in the first quarter, adding 1.47 million shares and ending with 26.7 million shares worth about $565.0 million.
• Several Figma insiders sold shares recently, including CEO Dylan Field and CTO Kris Rasmussen, with insiders selling 733,309 shares worth about $17.8 million over the last 90 days.
• Analysts remain cautious overall: recent price targets were cut by Wells Fargo and RBC, and the stock currently carries an average Hold rating with a consensus target price of $32.56.

SC US Ttgp LTD. grew its position in shares of Figma, Inc. (NYSE:FIG - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,728,171 shares of the company's stock after purchasing an additional 1,466,851 shares during the quarter. Figma makes up about 6.1% of SC US Ttgp LTD.'s holdings, making the stock its 6th largest position. SC US Ttgp LTD. owned 6.02% of Figma worth $565,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIG. NewEdge Advisors LLC purchased a new stake in shares of Figma in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Figma during the 3rd quarter worth approximately $27,000. Sunbelt Securities Inc. acquired a new position in Figma during the third quarter worth approximately $30,000. US Bancorp DE acquired a new position in Figma during the third quarter worth approximately $31,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Figma in the third quarter valued at approximately $33,000.

Insider Activity at Figma

In other Figma news, CEO Dylan Field sold 174,430 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.02, for a total transaction of $4,364,238.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 firm's stock in a transaction on 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 completion of the sale, the chief technology officer owned 9,771,529 shares of the company's stock, valued at $244,972,232.03. This trade represents a 3.24% 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 have sold 733,309 shares of company stock worth $17,824,756 in the last 90 days. Corporate insiders own 32.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased 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. Royal Bank Of Canada cut their target price 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. Weiss Ratings reiterated a "sell (e+)" rating on shares of Figma in a research report on Tuesday, May 19th. BTIG Research started coverage on shares of Figma in a research note on Monday, April 13th. They set a "neutral" rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Figma from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $32.56.

Figma Trading Up 5.9%

NYSE:FIG opened at $21.18 on Friday. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92. The stock's 50 day simple moving average is $21.35 and its 200-day simple moving average is $23.49. The firm has a market cap of $9.44 billion and a P/E ratio of -6.17.

Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 during the quarter. The firm's revenue was up 46.1% compared to the same quarter last year. Research analysts forecast that Figma, Inc. will post -0.79 EPS for the current fiscal year.

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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