Bamco Inc. NY Makes New $38.90 Million Investment in Figma, Inc. $FIG

Bamco Inc. NY bought a new stake in Figma, Inc. (NYSE:FIG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 750,000 shares of the company’s stock, valued at approximately $38,902,000. Bamco Inc. NY owned about 0.18% of Figma as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Voya Investment Management LLC bought a new stake in shares of Figma in the 3rd quarter worth approximately $3,412,000. VERITY Wealth Advisors bought a new position in Figma during the third quarter valued at $519,000. Tripletail Wealth Management LLC bought a new position in Figma during the third quarter valued at $53,000. Renaissance Capital LLC purchased a new stake in Figma in the third quarter worth $2,439,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in Figma in the third quarter worth $39,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FIG. The Goldman Sachs Group set a $35.00 price target on Figma in a research report on Thursday, February 19th. Wall Street Zen upgraded Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Finally, Stifel Nicolaus reduced their target price on shares of Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Figma presently has a consensus rating of “Hold” and an average price target of $43.25.

Figma Price Performance

Figma stock opened at $26.03 on Monday. The firm has a market capitalization of $11.48 billion and a P/E ratio of -8.34. Figma, Inc. has a one year low of $19.85 and a one year high of $142.92. The business has a fifty day moving average price of $28.22 and a 200-day moving average price of $41.11.

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

Insider Activity

In related news, CEO Dylan Field sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $30.80, for a total transaction of $7,700,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Shaunt Voskanian sold 8,554 shares of the company’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 transaction of $256,620.00. Following the sale, the executive directly owned 1,580,181 shares in the company, valued at $47,405,430. This trade represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,635,411 shares of company stock valued at $50,579,450. 45.20% of the stock is currently owned by 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.