First Trust Advisors LP Takes Position in Figma, Inc. $FIG

Key Points

• First Trust Advisors LP acquired 560,743 Figma shares during the first quarter, establishing a new stake valued at approximately $11.9 million, or 0.13% of the company. Several other institutional investors also significantly increased their holdings.
• Figma reported quarterly revenue of $333.44 million, up 46.1% year over year, and adjusted its earnings outlook to an expected loss of $0.79 per share for the fiscal year. Shares recently traded at $23.81, well below the 52-week high of $142.92.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $32.56. Meanwhile, insiders sold roughly 733,309 shares worth $17.8 million over the past three months, including sales by the CFO and CRO under pre-arranged trading plans.

First Trust Advisors LP acquired a new stake in shares of Figma, Inc. (NYSE:FIG - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 560,743 shares of the company's stock, valued at approximately $11,854,000. First Trust Advisors LP owned 0.13% of Figma as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in FIG. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Figma by 69.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company's stock worth $10,653,000 after purchasing an additional 116,681 shares in the last quarter. Amova Asset Management Americas Inc. lifted its stake in Figma by 641.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company's stock valued at $31,031,000 after buying an additional 1,269,900 shares in the last quarter. Freestone Capital Holdings LLC acquired a new stake in Figma in the 4th quarter worth about $10,297,000. Baillie Gifford & Co. increased its stake in Figma by 93.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company's stock worth $215,386,000 after buying an additional 2,789,986 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Figma by 1,670.9% during the 4th quarter. Ieq Capital LLC now owns 973,880 shares of the company's stock worth $36,394,000 after buying an additional 918,886 shares in the last quarter.

Figma Price Performance

FIG opened at $23.81 on Friday. The firm has a market capitalization of $10.61 billion and a price-to-earnings ratio of -6.94. The company's 50 day simple moving average is $21.43 and its two-hundred day simple moving average is $23.01. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92.

Figma (NYSE:FIG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $333.44 million during the quarter. The business's revenue was up 46.1% compared to the same quarter last year. On average, equities analysts anticipate that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity at Figma

In other Figma news, CFO Praveer Melwani sold 83,974 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98. Following the completion of the sale, the chief financial officer directly owned 1,749,024 shares in the company, valued at $39,825,276.48. This represents a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of Figma stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total value of $2,013,605.10. Following the transaction, the executive owned 1,781,380 shares in the company, valued at approximately $40,989,553.80. This represents a 4.68% 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 a total of 733,309 shares of company stock valued at $17,824,756 in the last three months. Company insiders own 32.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on FIG. Weiss Ratings reissued a "sell (e+)" rating on shares of Figma in a report on Tuesday, May 19th. Citigroup dropped their price target on Figma from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Morgan Stanley reduced their price objective 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. Wells Fargo & Company decreased their price objective on Figma from $42.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, June 26th. Finally, Bank of America initiated coverage on shares of Figma in a research note on Tuesday, July 7th. They set a "buy" rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $32.56.

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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