Index Venture Growth Associates V Ltd bought a new stake in Figma, Inc. (NYSE:FIG – Free Report) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,348,955 shares of the company’s stock, valued at approximately $87,780,000. Figma accounts for about 28.5% of Index Venture Growth Associates V Ltd’s investment portfolio, making the stock its 2nd largest position.
Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Figma in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Figma in the 3rd quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new position in Figma in the 3rd quarter valued at about $30,000. US Bancorp DE acquired a new position in Figma in the 3rd quarter valued at about $31,000. Finally, Montag A & Associates Inc. acquired a new position in Figma in the 3rd quarter valued at about $33,000.
Figma Stock Down 4.1%
NYSE FIG opened at $18.55 on Friday. The stock has a market cap of $8.27 billion and a PE ratio of -5.41. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $142.92. The business has a 50 day moving average price of $20.59 and a two-hundred day moving average price of $27.00.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Stifel Nicolaus set a $25.00 target price on shares of Figma in a research note on Friday, May 15th. BTIG Research began coverage on shares of Figma in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Oppenheimer began coverage on shares of Figma in a research note on Wednesday, March 25th. They set a “market perform” rating for the company. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price objective (down from $35.00) on shares of Figma in a research note on Friday, May 15th. Finally, Morgan Stanley dropped their price objective on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Four equities 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. According to data from MarketBeat.com, Figma has an average rating of “Hold” and a consensus target price of $38.63.
Check Out Our Latest Report on Figma
Insider Activity at Figma
In other news, CFO Praveer Melwani sold 83,974 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the completion of the transaction, the chief financial officer directly owned 1,749,024 shares in the company, valued at approximately $39,825,276.48. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,741 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total value of $469,274.64. Following the transaction, the general counsel owned 987,986 shares of the company’s stock, valued at approximately $24,739,169.44. This trade represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 699,037 shares of company stock worth $17,149,692. 45.20% of the stock is currently 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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