Healthcare of Ontario Pension Plan Trust Fund Takes $9.36 Million Position in Figma, Inc. $FIG

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Figma, Inc. (NYSE:FIG) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 442,753 shares of the company’s stock, valued at approximately $9,360,000.

A number of other hedge funds have also modified their holdings of the stock. a16z Capital Management L.L.C. acquired a new stake in Figma during the 3rd quarter worth about $842,687,000. Viking Global Investors LP acquired a new stake in shares of Figma during the fourth quarter valued at approximately $214,967,000. Durable Capital Partners LP purchased a new stake in shares of Figma in the 3rd quarter valued at approximately $278,510,000. Thrive Capital Management LLC acquired a new position in Figma in the 3rd quarter worth approximately $228,034,000. Finally, Cosmic Management LLC acquired a new position in Figma in the 4th quarter worth approximately $151,535,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. 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. Royal Bank Of Canada decreased their target price on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, June 25th. Bank of America assumed coverage on Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 price target on the stock. Citigroup dropped their price target on Figma from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Finally, Morgan Stanley reduced their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.56.

Insider Buying and Selling

In related news, CRO Shaunt Voskanian sold 8,629 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $20.62, for a total value of $177,929.98. Following the completion of the sale, the executive directly owned 1,764,672 shares in the company, valued at approximately $36,387,536.64. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 30,460 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.48, for a total transaction of $623,820.80. Following the transaction, the chief financial officer directly owned 1,711,526 shares in the company, valued at $35,052,052.48. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 733,309 shares of company stock valued at $17,824,756. 32.26% of the stock is owned by company insiders.

Figma Trading Up 6.3%

Shares of NYSE:FIG opened at $24.38 on Wednesday. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $142.92. The business has a fifty day simple moving average of $21.34 and a 200 day simple moving average of $23.20. The firm has a market cap of $10.86 billion and a price-to-earnings ratio of -7.11.

Figma (NYSE:FIG) last issued its earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm had revenue of $333.44 million for the quarter. The business’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, sell-side analysts forecast that Figma, Inc. will post -0.79 EPS for the current year.

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.