Dragoneer Investment Group LLC Buys Shares of 431,165 Figma, Inc. $FIG

Dragoneer Investment Group LLC purchased a new stake in Figma, Inc. (NYSE:FIG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 431,165 shares of the company’s stock, valued at approximately $22,365,000. Figma makes up about 0.5% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds have also modified their holdings of FIG. Whittier Trust Co. of Nevada Inc. acquired a new stake in Figma during the 3rd quarter valued at $26,000. US Bancorp DE acquired a new position in shares of Figma in the third quarter worth $31,000. Montag A & Associates Inc. purchased a new stake in shares of Figma in the third quarter valued at $33,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Figma during the third quarter valued at $39,000. Finally, Sandia Investment Management LP purchased a new stake in Figma during the 3rd quarter worth about $52,000.

Insider Activity

In other Figma news, CAO Tyler Herb sold 1,678 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.47, for a total transaction of $47,772.66. Following the completion of the sale, the chief accounting officer directly owned 188,913 shares in the company, valued at $5,378,353.11. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dylan Field sold 250,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $30.80, for a total value of $7,700,000.00. The SEC filing for this sale provides additional information. Insiders have sold 1,967,427 shares of company stock valued at $62,086,778 in the last 90 days. 45.20% of the stock is owned by corporate insiders.

Figma Stock Down 0.5%

Shares of FIG opened at $26.03 on Friday. The firm has a market cap of $11.48 billion and a PE ratio of -8.34. The company’s fifty day moving average is $28.22 and its two-hundred day moving average is $41.31. Figma, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.28. The business had revenue of $303.78 million during the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The business’s revenue for the quarter was up 40.1% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FIG. The Goldman Sachs Group set a $35.00 target price on shares of Figma in a report on Thursday, February 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research note on Monday, December 29th. Barclays raised shares of Figma to a “neutral” rating in a research note on Thursday, January 8th. Piper Sandler reissued an “overweight” rating and set a $35.00 price target on shares of Figma in a research note on Thursday, February 19th. Finally, Stifel Nicolaus lowered their price objective on Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.25.

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.