Rokos Capital Management LLP Makes New $4.41 Million Investment in Figma, Inc. $FIG

Key Points

• Rokos Capital Management initiated a $4.41 million position in Figma by purchasing 208,638 shares during the first quarter. Several other major institutional investors, including a16z and Viking Global Investors, also hold significant stakes.
• Figma reported quarterly revenue of $333.44 million, up 46.1% year over year, and EPS of $0.10, exceeding analysts’ estimate of a $0.17 loss. However, the company remains unprofitable, with a negative net margin of 123.83%.
• FIG shares opened at $22.95, while analysts maintain a consensus “Hold” rating and an average price target of $32.56. Insiders sold approximately $17.8 million of stock over the past three months, including sales by the CEO and general counsel under pre-arranged trading plans.

Rokos Capital Management LLP bought a new position in Figma, Inc. (NYSE:FIG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 208,638 shares of the company's stock, valued at approximately $4,414,000.

Several other institutional investors have also recently made changes to their positions in the company. a16z Capital Management L.L.C. bought a new stake in shares of Figma during the third quarter valued at approximately $842,687,000. Viking Global Investors LP bought a new position in Figma in the fourth quarter worth $214,967,000. Durable Capital Partners LP purchased a new position in Figma during the third quarter valued at $278,510,000. Thrive Capital Management LLC bought a new stake in shares of Figma during the 3rd quarter valued at $228,034,000. Finally, Cosmic Management LLC bought a new stake in shares of Figma during the 4th quarter valued at $151,535,000.

Figma Price Performance

Shares of NYSE:FIG opened at $22.95 on Tuesday. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92. The business has a fifty day moving average price of $21.32 and a 200-day moving average price of $23.29. The company has a market capitalization of $10.23 billion and a PE ratio of -6.69.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company had revenue of $333.44 million for the quarter. The company's revenue for the quarter was up 46.1% on a year-over-year basis. On average, sell-side analysts anticipate that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Brendan Mulligan sold 18,741 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64. Following the completion of the sale, the general counsel owned 987,986 shares of the company's stock, valued at $24,739,169.44. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred 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. In the last three months, insiders sold 733,309 shares of company stock valued at $17,824,756. 32.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FIG shares. Royal Bank Of Canada reduced their target price on shares of Figma from $28.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Thursday, June 25th. Bank of America started coverage on shares of Figma in a research report on Tuesday, July 7th. They set a "buy" rating and a $30.00 price target for the company. Piper Sandler restated an "overweight" rating and issued a $30.00 price objective on shares of Figma in a report on Thursday, June 25th. BTIG Research assumed coverage on shares of Figma in a report on Monday, April 13th. They issued a "neutral" rating on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Figma from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Figma currently has a consensus rating of "Hold" and an average target price of $32.56.

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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