Coatue Management LLC Acquires New Holdings in Figma, Inc. $FIG

Coatue Management LLC bought a new stake in shares of Figma, Inc. (NYSE:FIG) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,232,969 shares of the company’s stock, valued at approximately $167,694,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FIG. Alphabet Inc. acquired a new stake in shares of Figma in the third quarter valued at approximately $11,182,000. Rit Capital Partners PLC acquired a new position in shares of Figma during the third quarter worth approximately $2,592,000. Sands Capital Management LLC acquired a new position in shares of Figma during the third quarter worth approximately $11,762,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Figma in the 3rd quarter worth approximately $11,075,000. Finally, NZS Capital LLC bought a new position in Figma in the 3rd quarter worth approximately $8,070,000.

Figma Price Performance

FIG stock opened at $26.03 on Friday. Figma, Inc. has a 52-week low of $19.85 and a 52-week high of $142.92. The company’s 50 day simple moving average is $28.22 and its 200-day simple moving average is $41.31. The firm has a market capitalization of $11.48 billion and a P/E ratio of -8.34.

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

Insider Buying and Selling

In other news, CAO Tyler Herb sold 1,678 shares of Figma stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.47, for a total transaction of $47,772.66. Following the transaction, the chief accounting officer owned 188,913 shares in the company, valued at approximately $5,378,353.11. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dylan Field sold 250,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $30.80, for a total value of $7,700,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,967,427 shares of company stock valued at $62,086,778. 45.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FIG has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, February 19th. Wells Fargo & Company reduced their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Figma in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.25.

Figma Company 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.