Entropy Technologies LP Buys New Shares in Figma, Inc. $FIG

Entropy Technologies LP bought a new position in shares of Figma, Inc. (NYSE:FIG) in the first quarter, Holdings Channel reports. The fund bought 107,071 shares of the company’s stock, valued at approximately $2,263,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Figma in the first quarter valued at $9,360,000. SC US Ttgp LTD. boosted its stake in shares of Figma by 5.8% during the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after acquiring an additional 1,466,851 shares in the last quarter. GC Wealth Management RIA LLC acquired a new position in shares of Figma in the 1st quarter worth $1,138,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Figma during the first quarter worth $36,600,000. Finally, Siren L.L.C. raised its position in shares of Figma by 100.0% during the first quarter. Siren L.L.C. now owns 50,000 shares of the company’s stock worth $1,057,000 after purchasing an additional 25,000 shares during the period.

Insider Transactions at Figma

In other Figma news, CAO Tyler Herb sold 1,850 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.40, for a total transaction of $48,840.00. Following the completion of the sale, the chief accounting officer directly owned 263,435 shares in the company, valued at approximately $6,954,684. This trade represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total value of $8,199,043.22. Following the transaction, the chief technology officer directly owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 733,309 shares of company stock worth $17,824,756. 32.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FIG. JPMorgan Chase & Co. decreased their price target on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Citigroup cut their price objective on Figma from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Bank of America started coverage on shares of Figma in a research note on Tuesday, July 7th. They set a “buy” rating and a $30.00 price objective for the company. Stifel Nicolaus set a $25.00 target price on shares of Figma in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased 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. Five 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.56.

Figma Stock Up 0.3%

FIG opened at $21.18 on Monday. The firm has a market capitalization of $9.44 billion and a P/E ratio of -6.17. The stock has a fifty day moving average of $21.35 and a 200-day moving average of $23.39. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92.

Figma (NYSE:FIG) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share 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 business had revenue of $333.44 million for the quarter. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. On average, analysts expect that Figma, Inc. will post -0.79 earnings per share for the current fiscal 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.