Norges Bank Makes New Investment in Figma, Inc. $FIG

Norges Bank purchased a new position in shares of Figma, Inc. (NYSE:FIG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,037,200 shares of the company’s stock, valued at approximately $38,760,000. Norges Bank owned 0.25% of Figma at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in shares of Figma during the third quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Figma during the third quarter worth $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Figma during the third quarter worth $30,000. North Star Investment Management Corp. increased its position in shares of Figma by 50.0% during the fourth quarter. North Star Investment Management Corp. now owns 1,800 shares of the company’s stock worth $67,000 after acquiring an additional 600 shares during the period. Finally, US Bancorp DE purchased a new stake in shares of Figma during the third quarter worth $31,000.

Figma Stock Down 2.8%

Shares of Figma stock opened at $21.14 on Tuesday. The firm’s 50 day moving average is $20.67 and its two-hundred day moving average is $27.37. The firm has a market capitalization of $9.42 billion and a P/E ratio of -6.16. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92.

Figma (NYSE:FIG) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.27. The company had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. As a group, research analysts expect that Figma, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Figma

In related news, CEO Dylan Field sold 174,430 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.02, for a total transaction of $4,364,238.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 83,974 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98. Following the transaction, the chief financial officer directly owned 1,749,024 shares in the company, valued at approximately $39,825,276.48. This represents a 4.58% 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. In the last quarter, insiders sold 699,037 shares of company stock valued at $17,149,692. 45.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

FIG has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. The Goldman Sachs Group set a $35.00 target price on shares of Figma in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. BTIG Research assumed coverage on shares of Figma in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Finally, Royal Bank Of Canada dropped their target price on Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a report on Friday, May 15th. Four 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. According to data from MarketBeat.com, Figma has a consensus rating of “Hold” and an average target price of $38.63.

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.