52,743 Shares in Figma, Inc. $FIG Bought by Fifth Third Bancorp

Fifth Third Bancorp bought a new stake in Figma, Inc. (NYSE:FIG) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,743 shares of the company’s stock, valued at approximately $1,115,000.

Several other institutional investors have also modified their holdings of FIG. NewEdge Advisors LLC bought a new stake in Figma during the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Figma in the third quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new stake in Figma in the 3rd quarter valued at approximately $30,000. US Bancorp DE acquired a new stake in Figma in the 3rd quarter valued at approximately $31,000. Finally, CIBC Private Wealth Group LLC bought a new stake in Figma in the 3rd quarter valued at approximately $33,000.

Figma Stock Up 5.9%

Shares of NYSE FIG opened at $21.18 on Friday. The business’s 50 day moving average price is $21.35 and its two-hundred day moving average price is $23.49. The company has a market cap of $9.44 billion and a PE ratio of -6.17. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. As a group, research analysts anticipate that Figma, Inc. will post -0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Figma news, CAO Tyler Herb sold 1,850 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.40, for a total value of $48,840.00. Following the transaction, the chief accounting officer directly owned 263,435 shares in the company, valued at $6,954,684. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Shaunt Voskanian sold 8,629 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.62, for a total transaction of $177,929.98. Following the completion of the transaction, the executive owned 1,764,672 shares in the company, valued at approximately $36,387,536.64. This trade represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 in the last quarter. Company insiders own 32.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada decreased their price target on shares of Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. JPMorgan Chase & Co. cut their price objective on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Wells Fargo & Company reduced their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target on shares of Figma in a research note on Thursday, June 25th. Finally, Bank of America began coverage on shares of Figma in a research note on Tuesday, July 7th. They issued a “buy” rating and a $30.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.56.

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.