Rit Capital Partners PLC Purchases New Stake in Figma, Inc. $FIG

Rit Capital Partners PLC acquired a new stake in shares of Figma, Inc. (NYSE:FIG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $2,592,000. Figma comprises about 0.4% of Rit Capital Partners PLC’s portfolio, making the stock its 13th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Figma during the 3rd quarter valued at $26,000. SOA Wealth Advisors LLC. purchased a new stake in Figma in the third quarter worth about $39,000. Tripletail Wealth Management LLC bought a new stake in Figma during the 3rd quarter valued at approximately $53,000. CoreCap Advisors LLC purchased a new position in shares of Figma during the 3rd quarter worth approximately $57,000. Finally, North Star Investment Management Corp. bought a new position in shares of Figma in the 3rd quarter worth approximately $62,000.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FIG shares. The Goldman Sachs Group assumed coverage on Figma in a research report on Monday, January 12th. They set a “neutral” rating and a $40.00 price objective for the company. Piper Sandler set a $35.00 target price on Figma in a report on Monday. Barclays raised Figma to a “neutral” rating in a research report on Thursday, January 8th. Morgan Stanley dropped their target price on shares of Figma from $65.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada cut their price target on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Figma presently has a consensus rating of “Hold” and a consensus target price of $47.75.

Insider Buying and Selling

In other news, CTO Kris Rasmussen sold 272,789 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $43.47, for a total transaction of $11,858,137.83. Following the completion of the sale, the chief technology officer directly owned 11,121,558 shares in the company, valued at approximately $483,454,126.26. This represents a 2.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Shaunt Voskanian sold 403,335 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $43.39, for a total transaction of $17,500,705.65. Following the transaction, the executive directly owned 1,617,326 shares in the company, valued at approximately $70,175,775.14. This represents a 19.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,380,758 shares of company stock valued at $202,878,962 in the last 90 days.

Figma Stock Performance

Figma stock opened at $24.13 on Tuesday. Figma, Inc. has a one year low of $23.99 and a one year high of $142.92. The firm’s fifty day moving average price is $34.88. The stock has a market capitalization of $10.04 billion and a PE ratio of -9.00.

Figma (NYSE:FIG) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($1.56) by $1.66. The firm had revenue of $274.17 million during the quarter. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. Figma’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS.

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.