Teachers Retirement System of The State of Kentucky Acquires New Shares in Figma, Inc. $FIG

Teachers Retirement System of The State of Kentucky acquired a new position in Figma, Inc. (NYSE:FIG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,000 shares of the company’s stock, valued at approximately $2,438,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIG. Monashee Investment Management LLC purchased a new position in shares of Figma during the 3rd quarter worth $2,594,000. Warm Springs Advisors Inc. acquired a new position in Figma in the third quarter valued at about $2,075,000. R Squared Ltd acquired a new position in Figma in the third quarter valued at about $481,000. Lansing Street Advisors purchased a new position in Figma during the third quarter worth about $623,000. Finally, US Bancorp DE acquired a new stake in shares of Figma during the third quarter valued at about $31,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FIG shares. Barclays upgraded shares of Figma to a “neutral” rating in a report on Thursday, January 8th. Wall Street Zen upgraded Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Figma in a research report on Thursday, February 19th. Stifel Nicolaus cut their price objective on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Finally, Wells Fargo & Company lowered their target price on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Figma presently has a consensus rating of “Hold” and an average target price of $43.25.

Figma Trading Down 3.7%

Shares of NYSE FIG opened at $29.59 on Thursday. The stock has a market cap of $13.05 billion and a P/E ratio of -9.48. The business’s fifty day simple moving average is $29.56 and its 200-day simple moving average is $43.49. Figma, Inc. has a 12-month low of $19.85 and a 12-month high of $142.92.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.28. The company had revenue of $303.78 million for the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The business’s revenue for the quarter was up 40.1% on a year-over-year basis.

Insider Transactions at Figma

In related news, CRO Shaunt Voskanian sold 8,554 shares of Figma stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $30.00, for a total value of $256,620.00. Following the completion of the transaction, the executive owned 1,580,181 shares in the company, valued at $47,405,430. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Kris Rasmussen sold 51,359 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $30.00, for a total transaction of $1,540,770.00. Following the transaction, the chief technology officer owned 10,367,546 shares of the company’s stock, valued at $311,026,380. This trade represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,781,601 shares of company stock valued at $56,558,620 over the last quarter. Insiders own 45.20% of the company’s stock.

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.