FTX Recovery Trust bought a new stake in Figma, Inc. (NYSE:FIG – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 119,263 shares of the company’s stock, valued at approximately $4,457,000. Figma makes up about 14.2% of FTX Recovery Trust’s investment portfolio, making the stock its 2nd largest holding.
A number of other hedge funds have also added to or reduced their stakes in the business. Clear Street Group Inc. bought a new position in Figma in the fourth quarter valued at $10,651,000. Aptus Capital Advisors LLC grew its position in shares of Figma by 64.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 13,980 shares of the company’s stock valued at $522,000 after acquiring an additional 5,470 shares during the period. Kestra Advisory Services LLC grew its position in shares of Figma by 127.8% in the 4th quarter. Kestra Advisory Services LLC now owns 11,390 shares of the company’s stock valued at $426,000 after acquiring an additional 6,389 shares during the period. Harvard Management Co. Inc. bought a new position in shares of Figma in the 4th quarter valued at about $1,885,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Figma by 37.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,854 shares of the company’s stock valued at $443,000 after acquiring an additional 3,257 shares during the period.
Insider Buying and Selling at Figma
In other Figma news, CEO Dylan Field sold 174,430 shares of Figma stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.02, for a total value of $4,364,238.60. 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, CRO Shaunt Voskanian sold 87,510 shares of Figma stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the sale, the executive owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. This trade represents a 4.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 699,037 shares of company stock worth $17,149,692 in the last ninety days. Insiders own 45.20% of the company’s stock.
Figma Stock Performance
Figma (NYSE:FIG – Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million during the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm’s revenue for the quarter was up 46.1% on a year-over-year basis. Sell-side analysts forecast that Figma, Inc. will post -0.78 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have recently commented on FIG. Piper Sandler reissued an “overweight” rating and issued a $30.00 price objective (down from $35.00) on shares of Figma in a research report on Friday, May 15th. Royal Bank Of Canada decreased their price objective on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a research report on Thursday, February 19th. Finally, BTIG Research began coverage on shares of Figma in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Four investment 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 data from MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus price target of $38.63.
Read Our Latest Research Report on FIG
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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