Kerrisdale Advisers LLC Makes New Investment in Figma, Inc. $FIG

Key Points

• Kerrisdale Advisers initiated a position in Figma during the second quarter, purchasing 45,525 shares valued at approximately $824,000. Several other institutional investors also recently increased or initiated holdings.
• Analyst sentiment remains mixed: five analysts rate Figma a Buy, eight recommend Hold and one rates it Sell. The stock has an average price target of $32.56, compared with a recent price of $28.88.
• Figma reported quarterly revenue of $370.08 million, up 48.2% year over year, and earnings of $0.08 per share, exceeding consensus estimates. However, the company remains unprofitable, with a negative net margin of 123.15%, while insiders sold about 1.18 million shares worth $29.3 million during the quarter.

Kerrisdale Advisers LLC bought a new position in shares of Figma, Inc. (NYSE:FIG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 45,525 shares of the company's stock, valued at approximately $824,000.

A number of other institutional investors have also recently modified their holdings of FIG. Parallel Advisors LLC raised its holdings in Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company's stock worth $25,000 after purchasing an additional 1,167 shares during the period. NewEdge Advisors LLC acquired a new stake in Figma in the 3rd quarter valued at $26,000. DV Equities LLC purchased a new stake in Figma in the 4th quarter worth $26,000. Harbour Investments Inc. raised its position in Figma by 1,568.2% during the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company's stock worth $27,000 after acquiring an additional 690 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Figma during the third quarter valued at $27,000.

Analyst Ratings Changes

FIG has been the subject of several research analyst reports. Citigroup upped their price target on shares of Figma from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Bank of America increased their target price on Figma from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded Figma from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. 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, Stifel Nicolaus set a $25.00 target price on shares of Figma in a research report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $32.56.

Figma Trading Up 0.2%

NYSE FIG opened at $28.88 on Monday. The stock has a fifty day simple moving average of $23.47 and a 200-day simple moving average of $22.80. The stock has a market cap of $13.14 billion and a PE ratio of -7.93. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $71.48.

Figma (NYSE:FIG - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million for the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The company's quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. Research analysts predict that Figma, Inc. will post -0.75 EPS for the current year.

Insider Activity at Figma

In related news, CRO Shaunt Voskanian sold 87,510 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the transaction, the executive owned 1,781,380 shares of the company's stock, valued at approximately $40,989,553.80. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 261,301 shares of Figma stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $25.07, for a total transaction of $6,550,816.07. Following the completion of the sale, the chief technology officer owned 9,492,946 shares of the company's stock, valued at $237,988,156.22. This trade represents a 2.68% 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. In the last quarter, insiders have sold 1,179,632 shares of company stock valued at $29,315,186. 32.26% of the stock is owned by insiders.

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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