Figma, Inc. $FIG Stock Position Raised by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas boosted its Figma stake by 641.4% in the first quarter, ending with 1,467,887 shares worth about $31.0 million.
• Figma reported better-than-expected first-quarter earnings of $0.10 per share versus a consensus loss estimate, while revenue rose 46.1% year over year to $333.44 million.
• Insider selling has been notable: CFO Praveer Melwani and CEO Dylan Field both sold shares recently, and insiders sold 733,309 shares over the last three months, though analysts currently rate the stock a consensus Hold.

Amova Asset Management Americas Inc. increased its stake in Figma, Inc. (NYSE:FIG - Free Report) by 641.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,467,887 shares of the company's stock after acquiring an additional 1,269,900 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.33% of Figma worth $31,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company's stock valued at $25,000 after purchasing an additional 1,167 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Figma during the 3rd quarter worth about $26,000. DV Equities LLC acquired a new stake in Figma during the 4th quarter worth about $26,000. Concord Wealth Partners lifted its stake in Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company's stock valued at $27,000 after buying an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company's stock worth $27,000 after buying an additional 690 shares during the period.

Figma Trading Up 0.5%

FIG opened at $24.06 on Tuesday. The stock has a fifty day moving average price of $21.28 and a 200 day moving average price of $23.85. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $142.92. The stock has a market cap of $10.72 billion and a price-to-earnings ratio of -7.02.

Figma (NYSE:FIG - Get Free Report) last issued its 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. The company 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 firm's quarterly revenue was up 46.1% on a year-over-year basis. As a group, sell-side analysts forecast that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Transactions at Figma

In other Figma news, CFO Praveer Melwani sold 30,460 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.48, for a total value of $623,820.80. Following the completion of the sale, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of the firm'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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 733,309 shares of company stock valued at $17,824,756. Insiders own 32.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FIG shares. Wells Fargo & Company cut their price target on shares of Figma from $42.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, June 26th. Piper Sandler reissued an "overweight" rating and set a $30.00 target price on shares of Figma in a research note on Thursday, June 25th. Stifel Nicolaus set a $25.00 target price on Figma in a report on Friday, May 15th. BTIG Research began coverage on Figma in a research note on Monday, April 13th. They issued a "neutral" rating for the company. Finally, Oppenheimer restated a "market perform" rating on shares of Figma in a report on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.67.

Figma 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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