Kerrisdale Advisers LLC Buys New Shares in Figma, Inc. $FIG

Kerrisdale Advisers LLC purchased a new position in shares of Figma, Inc. (NYSE:FIG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,525 shares of the company’s stock, valued at approximately $824,000.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares during the period. NewEdge Advisors LLC acquired a new position in Figma during the 3rd quarter worth approximately $26,000. DV Equities LLC purchased a new stake in shares of Figma in the 4th quarter valued at approximately $26,000. Harbour Investments Inc. raised its holdings in shares of Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Figma during the 3rd quarter worth $27,000.

Insider Buying and Selling at Figma

In related news, CAO Tyler Herb sold 1,840 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $27.14, for a total transaction of $49,937.60. Following the completion of the sale, the chief accounting officer directly owned 254,640 shares of the company’s stock, valued at $6,910,929.60. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 196,397 shares of Figma stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.53, for a total transaction of $5,014,015.41. Following the completion of the transaction, the chief technology officer owned 9,234,587 shares in the company, valued at approximately $235,759,006.11. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,179,632 shares of company stock valued at $29,315,186. Corporate insiders own 32.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FIG shares. Oppenheimer reissued a “market perform” rating on shares of Figma in a report on Thursday, June 25th. JPMorgan Chase & Co. dropped their price objective on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Bank of America boosted their target price on Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Finally, Citigroup boosted their price objective on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Figma currently has an average rating of “Hold” and an average price target of $32.56.

Figma Stock Performance

Shares of NYSE:FIG opened at $28.88 on Monday. Figma, Inc. has a one year low of $16.60 and a one year high of $71.48. The stock has a market capitalization of $13.14 billion and a price-to-earnings ratio of -7.93. The company has a 50-day simple moving average of $23.47 and a 200-day simple moving average of $22.80.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The firm had revenue of $370.08 million for the quarter. During the same quarter last year, the firm earned $0.09 EPS. The business’s revenue was up 48.2% on a year-over-year basis. As a group, research analysts forecast that Figma, Inc. will post -0.75 EPS for the current fiscal year.

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.