Figma, Inc. $FIG Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC massively increased its Figma stake by 1,670.9% in the fourth quarter, ending with 973,880 shares worth about $36.4 million.
• Several other institutional investors also boosted or initiated positions, including Index Venture Growth Associates and Wells Fargo, signaling broad hedge fund interest in the stock.
• Despite the buying, Figma shares fell 4.1% to $18.55, and Wall Street remains cautious overall with a Hold consensus rating and a $38.63 average price target.

Ieq Capital LLC grew its stake in Figma, Inc. (NYSE:FIG - Free Report) by 1,670.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 973,880 shares of the company's stock after acquiring an additional 918,886 shares during the quarter. Ieq Capital LLC owned about 0.23% of Figma worth $36,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Polymer Capital Management HK LTD acquired a new stake in shares of Figma in the 4th quarter worth $614,000. Index Venture Growth Associates V Ltd acquired a new stake in shares of Figma in the 4th quarter worth $87,780,000. Wells Fargo & Company MN increased its stake in shares of Figma by 410.4% in the 4th quarter. Wells Fargo & Company MN now owns 312,831 shares of the company's stock worth $11,690,000 after acquiring an additional 251,537 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Figma by 1,331.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 84,072 shares of the company's stock worth $3,142,000 after acquiring an additional 78,198 shares during the last quarter. Finally, Circle Wealth Management LLC increased its stake in shares of Figma by 168.6% in the 4th quarter. Circle Wealth Management LLC now owns 19,465 shares of the company's stock worth $727,000 after acquiring an additional 12,218 shares during the last quarter.

Insider Buying and Selling at Figma

In other news, CEO Dylan Field sold 174,430 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.02, for a total transaction of $4,364,238.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,741 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $25.04, for a total value of $469,274.64. Following the transaction, the general counsel owned 987,986 shares of the company's stock, valued at approximately $24,739,169.44. This represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 699,037 shares of company stock worth $17,149,692. Insiders own 45.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FIG shares. Piper Sandler reaffirmed an "overweight" rating and issued a $30.00 target price (down from $35.00) on shares of Figma in a research note on Friday, May 15th. Royal Bank Of Canada cut their target price on Figma from $31.00 to $28.00 and set a "sector perform" rating for the company in a research note on Friday, May 15th. Morgan Stanley cut their target price on Figma from $44.00 to $38.00 and set an "equal weight" rating for the company in a research note on Friday, May 15th. JPMorgan Chase & Co. cut their target price on Figma from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, May 15th. Finally, The Goldman Sachs Group set a $35.00 target price on Figma in a research note on Thursday, February 19th. Four 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.63.

Figma Trading Down 4.1%

NYSE FIG opened at $18.55 on Friday. The stock has a market cap of $8.27 billion and a PE ratio of -5.41. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $142.92. The stock has a fifty day simple moving average of $20.59 and a 200-day simple moving average of $27.00.

Figma (NYSE:FIG - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The company's revenue was up 46.1% on a year-over-year basis. Research analysts predict that Figma, Inc. will post -0.78 EPS for the current year.

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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