Sumitomo Mitsui Trust Group Inc. Acquires 1,262,258 Shares of Figma, Inc. $FIG

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Figma, Inc. (NYSE:FIG) by 613.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,467,887 shares of the company’s stock after acquiring an additional 1,262,258 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Figma were worth $31,031,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. ICONIQ Capital LLC bought a new stake in Figma in the third quarter valued at about $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in Figma in the third quarter worth about $842,687,000. Viking Global Investors LP bought a new position in Figma during the fourth quarter worth about $214,967,000. Durable Capital Partners LP bought a new position in Figma during the third quarter worth about $278,510,000. Finally, Thrive Capital Management LLC acquired a new stake in Figma during the third quarter valued at approximately $228,034,000.

Figma Stock Performance

Shares of FIG opened at $23.77 on Tuesday. The stock has a fifty day moving average price of $20.91 and a two-hundred day moving average price of $24.36. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $142.92. The company has a market cap of $10.59 billion and a price-to-earnings ratio of -6.93.

Figma (NYSE:FIG) last announced its earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 company had revenue of $333.44 million for the quarter. The business’s revenue was up 46.1% compared to the same quarter last year. As a group, research analysts predict that Figma, Inc. will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at Figma

In other Figma news, CFO Praveer Melwani sold 83,974 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98. Following the completion of the sale, the chief financial officer owned 1,749,024 shares in the company, valued at approximately $39,825,276.48. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the transaction, the executive directly owned 1,781,380 shares of the company’s stock, valued at approximately $40,989,553.80. This represents a 4.68% decrease in their ownership of the stock. 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 have sold 733,309 shares of company stock worth $17,824,756 over the last quarter. Corporate insiders own 32.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. BTIG Research began coverage on Figma in a research report on Monday, April 13th. They set a “neutral” rating for the company. Morgan Stanley lowered their price target on Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.67.

Figma 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.