Voya Investment Management LLC Buys Shares of 65,771 Figma, Inc. $FIG

Voya Investment Management LLC purchased a new position in shares of Figma, Inc. (NYSE:FIG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 65,771 shares of the company’s stock, valued at approximately $3,412,000.

Figma Stock Down 0.9%

Shares of NYSE FIG opened at $38.51 on Friday. The business’s 50-day moving average price is $41.59. Figma, Inc. has a 12 month low of $32.83 and a 12 month high of $142.92.

Figma (NYSE:FIG) last announced its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. The firm had revenue of $274.17 million for the quarter. The business’s revenue was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 EPS.

Insiders Place Their Bets

In other news, CEO Dylan Field sold 3,029,063 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $37.30, for a total transaction of $112,984,049.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Kris Rasmussen sold 272,789 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $43.47, for a total value of $11,858,137.83. Following the completion of the transaction, the chief technology officer owned 11,121,558 shares of the company’s stock, valued at $483,454,126.26. The trade was a 2.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,930,405 shares of company stock worth $188,923,998. 45.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FIG shares. Morgan Stanley dropped their target price on shares of Figma from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, September 4th. The Goldman Sachs Group increased their price target on shares of Figma from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Royal Bank Of Canada cut their price objective on Figma from $75.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, September 4th. Piper Sandler reduced their target price on Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a report on Monday. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.86.

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.