Ardmore Road Asset Management LP Buys New Shares in Figma, Inc. $FIG

Ardmore Road Asset Management LP bought a new position in shares of Figma, Inc. (NYSE:FIG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 400,000 shares of the company’s stock, valued at approximately $8,456,000. Ardmore Road Asset Management LP owned approximately 0.09% of Figma as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new position in shares of Figma in the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Figma in the third quarter worth approximately $27,000. Sunbelt Securities Inc. purchased a new position in shares of Figma in the third quarter worth approximately $30,000. US Bancorp DE acquired a new stake in shares of Figma during the third quarter valued at approximately $31,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Figma in the 3rd quarter valued at approximately $33,000.

Figma Stock Performance

NYSE:FIG opened at $21.18 on Monday. The company has a market capitalization of $9.44 billion and a P/E ratio of -6.17. The stock’s 50 day moving average price is $21.35 and its 200 day moving average price is $23.39. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92.

Figma (NYSE:FIG) last posted its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million during the quarter. The company’s revenue was up 46.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity at Figma

In other Figma news, CTO Kris Rasmussen sold 327,046 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total value of $8,199,043.22. Following the completion of the sale, the chief technology officer owned 9,771,529 shares of the company’s stock, valued at $244,972,232.03. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total value of $2,013,605.10. Following the sale, the executive owned 1,781,380 shares of the company’s stock, valued at approximately $40,989,553.80. This trade represents a 4.68% 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. Over the last quarter, insiders sold 733,309 shares of company stock valued at $17,824,756. Insiders own 32.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FIG. Wells Fargo & Company decreased their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Stifel Nicolaus set a $25.00 target price on Figma in a report on Friday, May 15th. Morgan Stanley decreased their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 15th. Royal Bank Of Canada lowered their price target on Figma from $28.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.56.

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.