ICONIQ Capital LLC Takes Position in Figma, Inc. $FIG

Key Points

• ICONIQ Capital LLC bought 21,378,048 shares of Figma in Q3 — about $1.109 billion — representing roughly 5.14% ownership and making FIG the firm's 4th-largest holding (13.8% of ICONIQ's portfolio).
• Multiple other major funds (including SC US Ttgp LTD, Durable Capital, Thrive Capital, Coatue and Baillie Gifford) also initiated large Q3 stakes totaling over $2.1 billion, signaling broad institutional buying.
• Figma beat quarterly EPS estimates ($0.08 vs. -$0.20) and revenue rose 40.1% to $303.78 million, but the company remains unprofitable (negative net margin ~121.9% and ROE ~-97%); the stock has a market cap of $11.48 billion and a consensus analyst rating of Hold with a $43.25 target.

ICONIQ Capital LLC purchased a new position in Figma, Inc. (NYSE:FIG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,378,048 shares of the company's stock, valued at approximately $1,108,879,000. Figma comprises 13.8% of ICONIQ Capital LLC's investment portfolio, making the stock its 4th largest position. ICONIQ Capital LLC owned about 5.14% of Figma at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SC US Ttgp LTD. bought a new stake in Figma during the 3rd quarter valued at about $1,310,305,000. Durable Capital Partners LP bought a new position in Figma in the 3rd quarter worth about $278,510,000. Thrive Capital Management LLC bought a new position in Figma in the 3rd quarter worth about $228,034,000. Coatue Management LLC purchased a new position in shares of Figma during the third quarter worth approximately $167,694,000. Finally, Baillie Gifford & Co. purchased a new position in shares of Figma during the third quarter worth approximately $154,242,000.

Figma Trading Down 0.5%

FIG opened at $26.03 on Monday. The firm has a market cap of $11.48 billion and a price-to-earnings ratio of -8.34. Figma, Inc. has a 12 month low of $19.85 and a 12 month high of $142.92. The stock has a fifty day moving average price of $28.22 and a 200-day moving average price of $41.11.

Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The company had revenue of $303.78 million for the quarter. The firm's quarterly revenue was up 40.1% compared to the same quarter last year.

Insider Buying and Selling at Figma

In other Figma news, CAO Tyler Herb sold 1,678 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.47, for a total transaction of $47,772.66. Following the completion of the sale, the chief accounting officer directly owned 188,913 shares of the company's stock, valued at approximately $5,378,353.11. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Shaunt Voskanian sold 8,554 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $30.00, for a total transaction of $256,620.00. Following the completion of the sale, the executive owned 1,580,181 shares in the company, valued at $47,405,430. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,635,411 shares of company stock valued at $50,579,450. 45.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Figma from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Figma in a report on Monday, December 29th. Piper Sandler reiterated an "overweight" rating and issued a $35.00 target price on shares of Figma in a report on Thursday, February 19th. Wells Fargo & Company dropped their price target on Figma from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, February 19th. Finally, Royal Bank Of Canada cut their price target on Figma from $38.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Figma currently has a consensus rating of "Hold" and a consensus target price of $43.25.

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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