Royal Bank of Canada Buys 25,957 Shares of Figma, Inc. $FIG

Royal Bank of Canada increased its stake in Figma, Inc. (NYSE:FIG) by 37.8% in the 1st quarter, Holdings Channel reports. The firm owned 94,704 shares of the company’s stock after purchasing an additional 25,957 shares during the period. Royal Bank of Canada’s holdings in Figma were worth $2,002,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in FIG. Rokos Capital Management LLP acquired a new position in Figma during the first quarter valued at approximately $4,414,000. The Manufacturers Life Insurance Company lifted its stake in shares of Figma by 392.0% in the first quarter. The Manufacturers Life Insurance Company now owns 58,316 shares of the company’s stock worth $1,233,000 after buying an additional 46,462 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Figma by 237.2% during the 1st quarter. Quantinno Capital Management LP now owns 212,034 shares of the company’s stock worth $4,482,000 after buying an additional 149,156 shares during the period. Ardmore Road Asset Management LP bought a new stake in shares of Figma during the 1st quarter worth $8,456,000. Finally, Entropy Technologies LP acquired a new position in Figma in the 1st quarter valued at $2,263,000.

Figma Trading Down 1.6%

Shares of FIG stock opened at $25.02 on Tuesday. The firm has a market capitalization of $11.39 billion and a P/E ratio of -6.87. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $80.75. The firm’s fifty day simple moving average is $21.93 and its 200 day simple moving average is $22.58.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. The firm had revenue of $370.08 million during the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. Figma’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. Equities research analysts anticipate that Figma, Inc. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Bank of America started coverage on shares of Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 price target for the company. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Wells Fargo & Company cut their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.22.

Insider Buying and Selling at Figma

In related news, CEO Dylan Field sold 174,430 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.02, for a total transaction of $4,364,238.60. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,213 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $25.00, for a total value of $455,325.00. Following the completion of the transaction, the general counsel directly owned 951,571 shares of the company’s stock, valued at approximately $23,789,275. This trade represents a 1.88% 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 1,354,072 shares of company stock valued at $33,678,327 in the last three months. Company insiders own 32.26% of the company’s stock.

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.