Baillie Gifford & Co. Buys New Position in Figma, Inc. $FIG

Baillie Gifford & Co. bought a new stake in Figma, Inc. (NYSE:FIG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,973,627 shares of the company’s stock, valued at approximately $154,242,000. Baillie Gifford & Co. owned about 0.73% of Figma as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. bought a new stake in Figma in the 3rd quarter worth approximately $39,000. Tripletail Wealth Management LLC bought a new stake in shares of Figma in the 3rd quarter worth approximately $53,000. CoreCap Advisors LLC purchased a new stake in shares of Figma in the 3rd quarter valued at $57,000. North Star Investment Management Corp. bought a new position in shares of Figma during the 3rd quarter valued at $62,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Figma in the 3rd quarter worth $78,000.

Insiders Place Their Bets

In other Figma news, CTO Kris Rasmussen sold 181,345 shares of Figma stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $37.25, for a total transaction of $6,755,101.25. Following the transaction, the chief technology officer owned 10,698,648 shares of the company’s stock, valued at $398,524,638. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tyler Herb sold 2,840 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $37.15, for a total value of $105,506.00. Following the transaction, the chief accounting officer owned 198,158 shares of the company’s stock, valued at approximately $7,361,569.70. The trade was a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 5,509,988 shares of company stock worth $209,103,972. 45.20% of the stock is owned by corporate insiders.

Figma Stock Performance

NYSE FIG opened at $28.95 on Friday. The stock has a market capitalization of $12.04 billion and a PE ratio of -10.80. Figma, Inc. has a 12 month low of $26.79 and a 12 month high of $142.92. The business has a fifty day moving average of $35.85.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The firm had revenue of $274.17 million for the quarter. During the same quarter in the previous year, the company earned $0.04 EPS. The company’s quarterly revenue was up 38.0% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several analysts have issued reports on FIG shares. Morgan Stanley cut their price target on shares of Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Piper Sandler reduced their price target on Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price target on Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Barclays raised Figma to a “neutral” rating in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Figma in a research note on Monday, January 12th. They issued a “neutral” rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Figma has a consensus rating of “Hold” and a consensus target price of $52.13.

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.