22,095 Figma, Inc. $FIG Shares Acquired by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC lifted its stake in Figma, Inc. (NYSE:FIG) by 18.9% in the third quarter, HoldingsChannel reports. The firm owned 138,694 shares of the company’s stock after purchasing an additional 22,095 shares during the period. Figma accounts for 1.5% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 21st biggest position. Taylor Frigon Capital Management LLC’s holdings in Figma were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FIG. Parallel Advisors LLC raised its holdings in Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares during the period. Sunbelt Securities Inc. lifted its stake in Figma by 287.0% during the first quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock valued at $47,000 after buying an additional 1,650 shares in the last quarter. Atlantic Private Wealth LLC purchased a new stake in Figma during the first quarter valued at about $74,000. IFP Advisors Inc boosted its holdings in shares of Figma by 176.1% in the second quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock worth $78,000 after buying an additional 2,760 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in shares of Figma by 138.9% in the first quarter. North Star Investment Management Corp. now owns 4,300 shares of the company’s stock worth $91,000 after buying an additional 2,500 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Figma from $25.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, October 14th. Weiss Ratings upgraded shares of Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Bank of America raised their price objective on shares of Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Wells Fargo & Company lowered their price objective on shares of Figma from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.56.

Insider Activity

In other Figma news, General Counsel Brendan Mulligan sold 211,599 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $29.79, for a total value of $6,303,534.21. Following the transaction, the general counsel owned 727,952 shares in the company, valued at approximately $21,685,690.08. This represents a 22.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 381,288 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $25.13, for a total transaction of $9,581,767.44. Following the completion of the sale, the chief financial officer owned 1,725,716 shares of the company’s stock, valued at approximately $43,367,243.08. The trade was a 18.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,335,565 shares of company stock valued at $34,762,393 in the last three months. 32.26% of the stock is currently owned by insiders.

Figma Price Performance

NYSE:FIG opened at $24.69 on Friday. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $55.48. The stock’s 50-day moving average is $23.67 and its two-hundred day moving average is $22.12. The stock has a market cap of $11.24 billion, a PE ratio of -6.78 and a beta of 1.32.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million for the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%. Figma’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. On average, equities research analysts anticipate that Figma, Inc. will post -0.75 earnings per share for the current year.

Figma Company Profile

Figma, Inc (NYSE: FIG) develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.

The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.