Renaissance Technologies LLC Sells 1,133,700 Shares of Figma, Inc. $FIG

Renaissance Technologies LLC cut its holdings in shares of Figma, Inc. (NYSE:FIG) by 64.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 634,500 shares of the company’s stock after selling 1,133,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Figma were worth $13,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after purchasing an additional 1,167 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Figma in the third quarter valued at approximately $26,000. DV Equities LLC purchased a new stake in shares of Figma during the 4th quarter valued at approximately $26,000. Concord Wealth Partners lifted its stake in shares of Figma by 1,446.8% during the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after buying an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after buying an additional 690 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FIG shares. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research note on Friday, May 15th. Oppenheimer restated a “market perform” rating on shares of Figma in a research report on Thursday, June 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Wells Fargo & Company reduced their price target on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Finally, Citigroup decreased their price objective on Figma from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Five 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 currently has a consensus rating of “Hold” and an average price target of $32.56.

Figma Trading Up 2.5%

Shares of NYSE:FIG opened at $24.36 on Friday. The company has a 50 day moving average of $21.46 and a 200 day moving average of $23.02. The stock has a market cap of $10.86 billion and a P/E ratio of -7.10. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $142.92.

Figma (NYSE:FIG) last posted its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share 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 firm’s revenue was up 46.1% on a year-over-year basis. On average, equities analysts forecast that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Shaunt Voskanian sold 87,510 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the transaction, the executive directly owned 1,781,380 shares in the company, valued at $40,989,553.80. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,741 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was 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 in the company, valued at $24,739,169.44. This represents a 1.86% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 1,394,111 shares of company stock worth $34,412,664. Company insiders own 32.26% of the company’s stock.

Figma 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.