Greylock XIV GP LLC Acquires Shares of 58,420,365 Figma, Inc. $FIG

Greylock XIV GP LLC bought a new position in shares of Figma, Inc. (NYSE:FIG) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 58,420,365 shares of the company’s stock, valued at approximately $1,056,824,403,000. Figma accounts for about 100.0% of Greylock XIV GP LLC’s holdings, making the stock its largest position. Greylock XIV GP LLC owned 0.13% of Figma at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. bought a new position in shares of Figma in the 3rd quarter valued at $2,282,000. US Bancorp DE acquired a new stake in Figma in the third quarter valued at about $31,000. Blair William & Co. IL bought a new position in Figma in the third quarter valued at about $460,000. Banque Cantonale Vaudoise acquired a new position in Figma during the third quarter worth about $271,000. Finally, Franklin Resources Inc. bought a new position in shares of Figma in the third quarter worth about $9,084,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FIG. JPMorgan Chase & Co. reduced their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Piper Sandler reiterated an “overweight” rating and set a $30.00 price objective on shares of Figma in a research report on Thursday, June 25th. Oppenheimer reissued a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Bank of America initiated coverage on shares of Figma in a research report on Tuesday, July 7th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Stifel Nicolaus set a $25.00 target price on shares of Figma in a research note on Friday, May 15th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.22.

Figma Stock Up 4.2%

Shares of NYSE:FIG opened at $26.03 on Wednesday. The firm has a market cap of $11.85 billion and a P/E ratio of -7.15. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $78.00. The business has a fifty day simple moving average of $22.04 and a 200 day simple moving average of $22.56.

Figma (NYSE:FIG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. The firm 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%.The company’s quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, equities research analysts expect that Figma, Inc. will post -0.75 EPS for the current year.

Insider Buying and Selling

In related news, CEO Dylan Field sold 174,430 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.02, for a total value of $4,364,238.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 261,301 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $25.07, for a total transaction of $6,550,816.07. Following the sale, the chief technology officer directly owned 9,492,946 shares of the company’s stock, valued at $237,988,156.22. This represents a 2.68% 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. Insiders sold 1,354,072 shares of company stock valued at $33,678,327 over the last 90 days. 32.26% of the stock is currently owned by corporate 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.