Zevenbergen Capital Investments LLC Purchases 22,960 Shares of Figma, Inc. $FIG

Zevenbergen Capital Investments LLC purchased a new position in shares of Figma, Inc. (NYSE:FIG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,960 shares of the company’s stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bienville Capital Management LLC purchased a new stake in Figma in the 2nd quarter valued at about $13,325,000. WINTON GROUP Ltd purchased a new position in Figma during the second quarter worth about $340,000. Engineers Gate Manager LP increased its position in shares of Figma by 1,806.3% during the second quarter. Engineers Gate Manager LP now owns 316,215 shares of the company’s stock valued at $5,720,000 after acquiring an additional 299,627 shares during the last quarter. RFG Advisory LLC increased its position in shares of Figma by 23.3% during the second quarter. RFG Advisory LLC now owns 18,622 shares of the company’s stock valued at $337,000 after acquiring an additional 3,522 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Figma by 176.1% in the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock valued at $78,000 after acquiring an additional 2,760 shares during the period.

Analyst Ratings Changes

FIG has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Figma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Morgan Stanley set a $33.00 target price on Figma in a research report on Thursday, August 6th. Citigroup boosted their target price on Figma from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 7th. KeyCorp initiated coverage on Figma in a research note on Monday, September 14th. They set a “sector weight” rating on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $30.00 price objective on shares of Figma in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.56.

Figma Stock Performance

Shares of FIG traded up $0.98 during midday trading on Thursday, hitting $22.61. The company had a trading volume of 10,542,595 shares, compared to its average volume of 17,333,043. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $70.79. The firm has a market capitalization of $10.29 billion, a P/E ratio of -6.21 and a beta of 1.32. The company’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $22.04.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million for the quarter. During the same period last year, the business earned $0.09 EPS. The firm’s revenue was up 48.2% compared to the same quarter last year. Equities analysts predict that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Activity at Figma

In related news, General Counsel Brendan Mulligan sold 211,599 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $29.79, for a total value of $6,303,534.21. Following the transaction, the general counsel directly owned 727,952 shares of the company’s stock, valued at $21,685,690.08. This trade represents a 22.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 381,288 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $25.13, for a total transaction of $9,581,767.44. Following the completion of the sale, the chief financial officer directly owned 1,725,716 shares of the company’s stock, valued at approximately $43,367,243.08. This trade represents a 18.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,315,299 shares of company stock worth $34,303,773. Corporate insiders own 32.26% of the company’s stock.

Figma Profile

Figma, Inc is a collaborative software company that provides browser-based tools for designing, prototyping and developing digital products. Its platform enables product designers, developers, researchers, marketers and other stakeholders to work together on user interfaces and digital experiences in real time.

The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for collaborative brainstorming and whiteboarding, and Dev Mode, which helps developers inspect designs and translate them into working products.