The Manufacturers Life Insurance Company Purchases 46,462 Shares of Figma, Inc. $FIG

Key Points

• The Manufacturers Life Insurance Company increased its Figma position by 392% in the first quarter, purchasing 46,462 additional shares and ending with 58,316 shares valued at approximately $1.23 million. Several other institutions also initiated positions.
• Analyst sentiment remains mixed, with five Buy ratings, 10 Holds and one Sell. Figma has an average rating of “Hold” and an average price target of $32.22.
• Figma reported quarterly revenue of $370.08 million, up 48.2% year over year, and adjusted earnings of $0.08 per share, beating estimates by $0.30. However, the company continues to report negative profitability metrics, while insiders sold approximately 1.68 million shares worth $41.7 million over the past 90 days.

The Manufacturers Life Insurance Company lifted its holdings in Figma, Inc. (NYSE:FIG - Free Report) by 392.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,316 shares of the company's stock after buying an additional 46,462 shares during the period. The Manufacturers Life Insurance Company's holdings in Figma were worth $1,233,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FIG. NewEdge Advisors LLC purchased a new stake in shares of Figma during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in Figma in the third quarter worth $27,000. Sunbelt Securities Inc. bought a new position in Figma in the 3rd quarter valued at $30,000. US Bancorp DE bought a new position in Figma in the 3rd quarter valued at $31,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Figma during the 3rd quarter valued at $33,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FIG. Oppenheimer reissued a "market perform" rating on shares of Figma in a report on Thursday, June 25th. Bank of America began coverage on Figma in a research note on Tuesday, July 7th. They issued a "buy" rating and a $30.00 price objective on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Figma in a report on Thursday, August 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Figma in a research report on Tuesday, May 19th. Finally, Morgan Stanley set a $33.00 price target on shares of Figma in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Figma currently has an average rating of "Hold" and an average price target of $32.22.

Insider Activity

In related news, CAO Tyler Herb sold 1,536 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.00, for a total transaction of $39,936.00. Following the completion of the transaction, the chief accounting officer owned 257,189 shares of the company's stock, valued at approximately $6,686,914. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brendan Mulligan sold 18,213 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total transaction of $455,325.00. Following the sale, the general counsel directly owned 951,571 shares in the company, valued at $23,789,275. This trade represents a 1.88% 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. Over the last 90 days, insiders sold 1,675,578 shares of company stock valued at $41,729,080. 32.26% of the stock is currently owned by insiders.

Figma Stock Performance

Shares of NYSE FIG opened at $24.83 on Wednesday. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $91.00. The stock has a market cap of $11.30 billion and a PE ratio of -6.82. The stock has a fifty day moving average of $21.68 and a 200-day moving average of $22.69.

Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The business had revenue of $370.08 million for the quarter. During the same period last year, the company posted $0.09 EPS. The business's revenue for the quarter was up 48.2% on a year-over-year basis. On average, sell-side analysts predict that Figma, Inc. will post -0.79 EPS for the current year.

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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