Alkeon Capital Management LLC Takes $22.36 Million Position in Figma, Inc. $FIG

Alkeon Capital Management LLC acquired a new stake in shares of Figma, Inc. (NYSE:FIG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 431,164 shares of the company’s stock, valued at approximately $22,364,000. Alkeon Capital Management LLC owned approximately 0.10% of Figma at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FIG. Creative Planning acquired a new stake in shares of Figma during the third quarter valued at about $309,000. Lazard Asset Management LLC acquired a new position in shares of Figma in the 3rd quarter worth approximately $223,000. Durable Capital Partners LP bought a new stake in Figma during the third quarter valued at $278,510,000. Raymond James Financial Inc. bought a new stake in shares of Figma during the 3rd quarter valued at about $1,337,000. Finally, Sandia Investment Management LP bought a new position in shares of Figma during the 3rd quarter worth approximately $52,000.

Figma Trading Down 0.5%

Figma stock 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 firm has a market capitalization of $11.48 billion and a PE ratio of -8.34. The firm’s 50 day simple moving average is $28.22 and its 200 day simple moving average is $41.31.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.28. The company had revenue of $303.78 million during the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.Figma’s revenue for the quarter was up 40.1% compared to the same quarter last year.

Insider Activity

In related news, CRO Shaunt Voskanian sold 8,554 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $30.00, for a total value of $256,620.00. Following the completion of the sale, the executive owned 1,580,181 shares in the company, valued at $47,405,430. The trade was a 0.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Tyler Herb sold 1,678 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 188,913 shares of the company’s stock, valued at approximately $5,378,353.11. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,967,427 shares of company stock worth $62,086,778. Corporate insiders own 45.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FIG shares. Royal Bank Of Canada cut their price objective on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research 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 note on Thursday, February 19th. Morgan Stanley set a $44.00 target price on Figma in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Four equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.