Dragoneer Investment Group LLC Makes New $22.37 Million Investment in Figma, Inc. $FIG

Dragoneer Investment Group LLC bought a new stake in Figma, Inc. (NYSE:FIG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 431,165 shares of the company’s stock, valued at approximately $22,365,000. Figma comprises 0.5% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 21st largest position. Dragoneer Investment Group LLC owned 0.10% of Figma at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FIG. Coatue Management LLC acquired a new position in Figma during the third quarter worth approximately $167,694,000. Capula Management Ltd acquired a new stake in shares of Figma in the third quarter valued at approximately $956,000. Centiva Capital LP purchased a new position in shares of Figma during the third quarter worth approximately $269,000. Circle Wealth Management LLC purchased a new position in shares of Figma during the third quarter worth approximately $376,000. Finally, Bamco Inc. NY acquired a new position in shares of Figma in the 3rd quarter valued at $38,902,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FIG shares. Wells Fargo & Company dropped their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Royal Bank Of Canada dropped their price target on Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 19th. The Goldman Sachs Group set a $35.00 price objective on Figma in a research report on Thursday, February 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.25.

Figma Stock Performance

NYSE:FIG opened at $26.03 on Friday. Figma, Inc. has a 1 year low of $19.85 and a 1 year high of $142.92. The stock has a fifty day moving average price of $28.22 and a two-hundred day moving average price of $41.31. The stock has a market capitalization of $11.48 billion and a price-to-earnings ratio of -8.34.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, February 18th. The company reported $0.08 EPS 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 net margin of 121.87% and a negative return on equity of 97.03%. The business’s quarterly revenue was up 40.1% on a year-over-year basis.

Insiders Place Their Bets

In related news, CTO Kris Rasmussen sold 205,438 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $25.01, for a total value of $5,138,004.38. Following the sale, the chief technology officer owned 10,418,905 shares in the company, valued at $260,576,814.05. This represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dylan Field sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $34.66, for a total value of $8,665,000.00. 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 worth $62,086,778. 45.20% of the stock is owned by company insiders.

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.