FTX Recovery Trust Acquires New Position in Figma, Inc. $FIG

FTX Recovery Trust bought a new position in Figma, Inc. (NYSE:FIG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 119,263 shares of the company’s stock, valued at approximately $4,457,000. Figma accounts for 14.2% of FTX Recovery Trust’s investment portfolio, making the stock its 2nd largest holding.

Several other hedge funds also recently bought and sold shares of FIG. SC US Ttgp LTD. acquired a new stake in Figma in the third quarter worth $1,310,305,000. ICONIQ Capital LLC acquired a new stake in Figma in the third quarter worth $1,108,879,000. a16z Capital Management L.L.C. acquired a new stake in Figma in the third quarter worth $842,687,000. Durable Capital Partners LP acquired a new stake in Figma in the third quarter worth $278,510,000. Finally, Thrive Capital Management LLC acquired a new stake in Figma in the third quarter worth $228,034,000.

Analyst Ratings Changes

Several research firms have weighed in on FIG. Royal Bank Of Canada cut their target price on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a report on Friday, May 15th. Stifel Nicolaus set a $25.00 target price on shares of Figma in a report on Friday, May 15th. Wells Fargo & Company cut their target price on shares of Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Finally, BTIG Research assumed coverage on shares of Figma in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.63.

Insiders Place Their Bets

In related news, General Counsel Brendan Mulligan sold 18,741 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total value of $469,274.64. Following the completion of the transaction, the general counsel owned 987,986 shares of the company’s stock, valued at approximately $24,739,169.44. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 327,046 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the completion of the transaction, the chief technology officer directly owned 9,771,529 shares of the company’s stock, valued at approximately $244,972,232.03. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 699,037 shares of company stock valued at $17,149,692 in the last quarter. Company insiders own 45.20% of the company’s stock.

Figma Stock Down 4.1%

Shares of NYSE:FIG opened at $18.55 on Friday. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $142.92. The company’s fifty day simple moving average is $20.59 and its 200 day simple moving average is $27.00. The firm has a market cap of $8.27 billion and a price-to-earnings ratio of -5.41.

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