3,060,796 Figma, Inc. $FIG Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in Figma, Inc. (NYSE:FIG) by 26,445.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,072,370 shares of the company’s stock after acquiring an additional 3,060,796 shares during the quarter. Pictet Asset Management Holding SA owned 0.68% of Figma worth $64,581,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allen Operations LLC increased its holdings in Figma by 240.5% in the 3rd quarter. Allen Operations LLC now owns 79,046 shares of the company’s stock valued at $1,662,000 after purchasing an additional 55,832 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Figma by 31.4% during the third quarter. International Assets Investment Management LLC now owns 20,523 shares of the company’s stock worth $443,000 after purchasing an additional 4,900 shares in the last quarter. Waldron Private Wealth LLC acquired a new position in Figma during the third quarter worth $423,000. Kestra Advisory Services LLC boosted its position in shares of Figma by 3.2% during the third quarter. Kestra Advisory Services LLC now owns 25,976 shares of the company’s stock worth $546,000 after buying an additional 803 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Figma by 2.8% during the third quarter. Commonwealth Equity Services LLC now owns 41,617 shares of the company’s stock worth $875,000 after buying an additional 1,133 shares during the period.

Analyst Upgrades and Downgrades

FIG has been the subject of a number of research reports. Morgan Stanley set a $33.00 price objective on Figma in a research note on Thursday, August 6th. Oppenheimer reissued a “market perform” rating on shares of Figma in a research note on Thursday. Rothschild & Co Redburn assumed coverage on Figma in a research note on Monday, November 2nd. They set a “neutral” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Figma from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Finally, Wells Fargo & Company dropped their target price on Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.80.

Insider Activity at Figma

In other Figma news, General Counsel Brendan Mulligan sold 211,599 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $29.79, for a total transaction of $6,303,534.21. Following the sale, the general counsel owned 727,952 shares in the company, valued at $21,685,690.08. This represents a 22.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tyler Herb sold 2,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the chief accounting officer directly owned 252,640 shares in the company, valued at $7,579,200. This represents a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 381,052 shares of company stock worth $10,495,182. Company insiders own 32.26% of the company’s stock.

Figma Trading Up 3.1%

Figma stock opened at $19.39 on Tuesday. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $45.42. The company’s 50 day moving average is $22.43 and its two-hundred day moving average is $22.92.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.32. Figma had a negative net margin of 40.21% and a negative return on equity of 33.14%. The business had revenue of $391.42 million during the quarter. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue was up 42.8% on a year-over-year basis. As a group, equities analysts forecast that Figma, Inc. will post -0.75 EPS for the current fiscal year.

About Figma

Figma, Inc develops browser-based software for designing and building digital products. Its platform supports collaborative interface design, interactive prototyping and workflows that help teams plan, create and refine websites, apps and other digital experiences.

Figma’s products include Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and access implementation details. Figma Slides provides tools for creating and presenting slide decks.

Founded in 2012 by Dylan Field and Evan Wallace, the company serves organizations and individuals around the world through its collaborative software platform.