The Manufacturers Life Insurance Company Grows Position in Figma, Inc. $FIG

The Manufacturers Life Insurance Company grew its holdings in shares of Figma, Inc. (NYSE:FIG) by 392.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,316 shares of the company’s stock after acquiring an additional 46,462 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Figma were worth $1,233,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FIG. SC US Ttgp LTD. increased its position in shares of Figma by 5.8% in the first quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after purchasing an additional 1,466,851 shares during the last quarter. a16z Capital Management L.L.C. bought a new stake in Figma during the third quarter valued at approximately $842,687,000. JPMorgan Chase & Co. lifted its position in Figma by 119.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock valued at $248,284,000 after purchasing an additional 3,615,198 shares during the last quarter. Viking Global Investors LP purchased a new position in Figma in the 4th quarter worth approximately $214,967,000. Finally, Durable Capital Partners LP purchased a new position in Figma in the 3rd quarter worth approximately $278,510,000.

Insider Buying and Selling

In other Figma news, CTO Kris Rasmussen sold 327,046 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total value of $8,199,043.22. Following the completion of the sale, the chief technology officer owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.02, for a total value of $4,364,238.60. 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. Insiders sold 1,675,578 shares of company stock valued at $41,729,080 over the last quarter. Company insiders own 32.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FIG. Oppenheimer restated a “market perform” rating on shares of Figma in a research report on Thursday, June 25th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. JPMorgan Chase & Co. reduced their target price on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Stifel Nicolaus set a $25.00 price target on Figma in a research report on Friday, May 15th. Finally, Citigroup lifted their price target on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.22.

Figma Stock Performance

FIG stock opened at $24.83 on Wednesday. The firm has a market cap of $11.30 billion and a P/E ratio of -6.82. The firm’s fifty day moving average is $21.68 and its 200 day moving average is $22.69. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $91.00.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.30. The firm had revenue of $370.08 million for the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The firm’s quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, analysts forecast that Figma, Inc. will post -0.79 EPS for the current year.

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.