Mirae Asset Global Investments Co. Ltd. Buys Shares of 168,374 Figma, Inc. $FIG

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Figma, Inc. (NYSE:FIG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 168,374 shares of the company’s stock, valued at approximately $8,734,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $26,000. SOA Wealth Advisors LLC. bought a new stake in Figma in the third quarter valued at approximately $39,000. Tripletail Wealth Management LLC bought a new stake in Figma in the third quarter valued at approximately $53,000. CoreCap Advisors LLC acquired a new stake in Figma in the third quarter worth $57,000. Finally, North Star Investment Management Corp. bought a new position in shares of Figma during the third quarter worth $62,000.

Insider Transactions at Figma

In other Figma news, CRO Shaunt Voskanian sold 8,449 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $37.24, for a total transaction of $314,640.76. Following the sale, the executive directly owned 1,592,563 shares of the company’s stock, valued at $59,307,046.12. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Kris Rasmussen sold 181,345 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $37.25, for a total transaction of $6,755,101.25. Following the transaction, the chief technology officer owned 10,698,648 shares of the company’s stock, valued at approximately $398,524,638. This represents a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 5,509,988 shares of company stock worth $209,103,972. 45.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on FIG shares. Royal Bank Of Canada lowered their price objective on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. Piper Sandler decreased their target price on Figma from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Wall Street Zen lowered Figma from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus started coverage on Figma in a report on Wednesday, January 7th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.13.

Figma Price Performance

NYSE FIG opened at $25.92 on Friday. Figma, Inc. has a 52 week low of $25.91 and a 52 week high of $142.92. The company has a 50 day moving average price of $35.11. The company has a market cap of $10.78 billion and a PE ratio of -9.67.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. The company had revenue of $274.17 million for the quarter. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. Figma’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share.

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.