Sands Capital Management LLC Has $7.09 Million Stock Position in Figma, Inc. $FIG

Sands Capital Management LLC lowered its stake in Figma, Inc. (NYSE:FIG) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,782 shares of the company’s stock after selling 36,970 shares during the period. Sands Capital Management LLC’s holdings in Figma were worth $7,092,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SC US Ttgp LTD. acquired a new position in Figma in the 3rd quarter worth about $1,310,305,000. ICONIQ Capital LLC bought a new position in Figma in the third quarter valued at about $1,108,879,000. a16z Capital Management L.L.C. bought a new position in Figma in the third quarter valued at about $842,687,000. Durable Capital Partners LP bought a new position in Figma in the third quarter valued at about $278,510,000. Finally, Thrive Capital Management LLC bought a new position in Figma in the third quarter valued at about $228,034,000.

Insider Activity at Figma

In related news, CFO Praveer Melwani sold 83,974 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 1,749,024 shares in the company, valued at $39,825,276.48. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed 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, CEO Dylan Field sold 174,430 shares of the company’s 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 694,220 shares of company stock worth $17,023,005 over the last quarter. 45.20% of the stock is owned by company insiders.

Figma Trading Up 0.0%

NYSE FIG opened at $18.55 on Monday. The business’s 50-day moving average price is $20.59 and its two-hundred day moving average price is $26.94. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $142.92. The firm has a market capitalization of $8.27 billion and a PE ratio of -5.41.

Figma (NYSE:FIG) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm had revenue of $333.44 million for the quarter. The company’s revenue was up 46.1% on a year-over-year basis. As a group, analysts forecast that Figma, Inc. will post -0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

FIG has been the subject of several research reports. Royal Bank Of Canada dropped their target price on Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, May 15th. Stifel Nicolaus set a $25.00 target price on Figma in a research report on Friday, May 15th. The Goldman Sachs Group set a $35.00 target price on Figma in a research report on Thursday, February 19th. BTIG Research initiated coverage on Figma in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.63.

About Figma

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.