Rakuten Investment Management Inc. Acquires Shares of 85,304 Figma, Inc. $FIG

Rakuten Investment Management Inc. bought a new position in shares of Figma, Inc. (NYSE:FIG) in the third quarter, Holdings Channel reports. The fund bought 85,304 shares of the company’s stock, valued at approximately $4,425,000.

A number of other institutional investors also recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Figma in the third quarter valued at about $78,000. Rakuten Securities Inc. acquired a new position in shares of Figma during the 3rd quarter worth approximately $155,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Figma during the third quarter worth approximately $11,075,000. Elite Wealth Management Inc. acquired a new stake in shares of Figma in the third quarter valued at approximately $1,333,000. Finally, Lattice Capital Management LLC acquired a new stake in shares of Figma in the third quarter valued at approximately $384,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FIG shares. Piper Sandler lowered their price objective on Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. The Goldman Sachs Group started coverage on Figma in a report on Monday, January 12th. They set a “neutral” rating and a $40.00 target price on the stock. Barclays raised Figma to a “neutral” rating in a research note on Thursday, January 8th. Royal Bank Of Canada reduced their price objective on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.13.

Insider Transactions at Figma

In other Figma news, CEO Dylan Field sold 3,029,063 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $37.30, for a total value of $112,984,049.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brendan Mulligan sold 80,934 shares of Figma stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $43.47, for a total value of $3,518,200.98. Following the sale, the general counsel directly owned 913,181 shares in the company, valued at $39,695,978.07. The trade was a 8.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,509,988 shares of company stock worth $209,103,972 in the last 90 days. 45.20% of the stock is currently owned by company insiders.

Figma Stock Performance

Shares of NYSE:FIG opened at $28.47 on Friday. Figma, Inc. has a one year low of $26.79 and a one year high of $142.92. The company has a market cap of $11.84 billion and a P/E ratio of -10.62. The company has a 50 day moving average of $36.05.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The firm had revenue of $274.17 million for the quarter. During the same period in the previous year, the firm posted $0.04 EPS. The business’s quarterly revenue was up 38.0% compared to the same quarter last year.

Figma Company Profile

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.