586,023 Shares in Figma, Inc. $FIG Purchased by ARK Investment Management LLC

ARK Investment Management LLC bought a new stake in shares of Figma, Inc. (NYSE:FIG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 586,023 shares of the company’s stock, valued at approximately $30,397,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in Figma during the 3rd quarter valued at approximately $26,000. US Bancorp DE purchased a new position in shares of Figma in the third quarter valued at $31,000. Montag A & Associates Inc. bought a new stake in Figma in the third quarter worth $33,000. SOA Wealth Advisors LLC. bought a new position in Figma during the third quarter valued at $39,000. Finally, Tripletail Wealth Management LLC bought a new position in Figma during the third quarter valued at $53,000.

Insider Activity at Figma

In other Figma news, CAO Tyler Herb sold 1,492 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $32.00, for a total value of $47,744.00. Following the transaction, the chief accounting officer directly owned 192,942 shares in the company, valued at $6,174,144. This represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Phillips Reed purchased 912,749 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $24.30 per share, with a total value of $22,179,800.70. Following the purchase, the director directly owned 1,466,852 shares of the company’s stock, valued at approximately $35,644,503.60. This represents a 164.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,781,601 shares of company stock worth $56,558,620 over the last ninety days. 45.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FIG has been the topic of several recent research reports. Barclays upgraded shares of Figma to a “neutral” rating in a research report on Thursday, January 8th. Royal Bank Of Canada lowered their price objective on Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, February 19th. Wells Fargo & Company dropped their target price on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Morgan Stanley set a $44.00 price target on Figma in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.25.

Figma Stock Performance

Shares of FIG stock opened at $29.59 on Thursday. The stock has a 50 day moving average price of $29.56 and a 200 day moving average price of $43.49. Figma, Inc. has a 52-week low of $19.85 and a 52-week high of $142.92. The firm has a market capitalization of $13.05 billion and a P/E ratio of -9.48.

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

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.