Syon Capital LLC Purchases Shares of 173,120 Figma, Inc. $FIG

Syon Capital LLC purchased a new stake in Figma, Inc. (NYSE:FIG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 173,120 shares of the company’s stock, valued at approximately $6,469,000.

A number of other hedge funds have also recently bought and sold shares of FIG. Truist Financial Corp bought a new position in Figma in the third quarter valued at approximately $314,000. Jones Financial Companies Lllp acquired a new stake in shares of Figma in the third quarter valued at approximately $107,000. SBI Securities Co. Ltd. acquired a new stake in shares of Figma in the third quarter valued at approximately $823,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Figma in the third quarter valued at approximately $217,000. Finally, RFG Advisory LLC acquired a new stake in shares of Figma in the third quarter valued at approximately $431,000.

Analyst Ratings Changes

FIG has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price objective (down from $35.00) on shares of Figma in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. The Goldman Sachs Group set a $35.00 price objective on Figma in a research report on Thursday, February 19th. Finally, BTIG Research initiated coverage on Figma in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Figma currently has a consensus rating of “Hold” and a consensus price target of $38.63.

Figma Trading Down 3.5%

NYSE:FIG opened at $21.73 on Friday. The stock has a market cap of $9.68 billion and a P/E ratio of -6.33. The stock has a 50 day simple moving average of $20.69 and a 200 day simple moving average of $27.55. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92.

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

Insider Buying and Selling at Figma

In related news, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the completion of the sale, the chief technology officer directly owned 9,771,529 shares of the company’s stock, valued at approximately $244,972,232.03. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 Figma stock in a transaction that occurred on Friday, May 29th. The stock was 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 a total of 699,037 shares of company stock worth $17,149,692 in the last 90 days. Company insiders own 45.20% of the company’s stock.

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.