Teachers Retirement System of The State of Kentucky raised its position in Figma, Inc. (NYSE:FIG – Free Report) by 26.4% in the first quarter, Holdings Channel reports. The fund owned 135,300 shares of the company’s stock after buying an additional 28,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Figma were worth $2,860,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. a16z Capital Management L.L.C. acquired a new stake in shares of Figma in the 3rd quarter valued at $842,687,000. Viking Global Investors LP acquired a new position in shares of Figma during the fourth quarter worth $214,967,000. Durable Capital Partners LP acquired a new position in shares of Figma during the third quarter worth $278,510,000. Thrive Capital Management LLC purchased a new position in Figma in the third quarter valued at $228,034,000. Finally, Cosmic Management LLC purchased a new position in Figma in the fourth quarter valued at $151,535,000.
Figma Price Performance
NYSE FIG opened at $23.76 on Wednesday. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $142.92. The company has a market capitalization of $10.59 billion and a PE ratio of -6.93. The company has a fifty day moving average of $21.00 and a two-hundred day moving average of $24.25.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on FIG. Bank of America began coverage on Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 price target for the company. Wells Fargo & Company cut their target price on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Royal Bank Of Canada decreased their target price on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. JPMorgan Chase & Co. lowered their price target on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Figma has an average rating of “Hold” and an average price target of $32.67.
Check Out Our Latest Analysis on Figma
Insider Activity
In other Figma news, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total value of $8,199,043.22. Following the transaction, the chief technology officer directly owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tyler Herb sold 1,850 shares of Figma stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.40, for a total transaction of $48,840.00. Following the completion of the transaction, the chief accounting officer owned 263,435 shares in the company, valued at approximately $6,954,684. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 733,309 shares of company stock worth $17,824,756 over the last 90 days. 32.26% of the stock is owned by corporate 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.
Read More
- Five stocks we like better than Figma
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
Want to see what other hedge funds are holding FIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Figma, Inc. (NYSE:FIG – Free Report).
Receive News & Ratings for Figma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Figma and related companies with MarketBeat.com's FREE daily email newsletter.
