3,060,796 Figma, Inc. $FIG Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in Figma, Inc. (NYSE:FIG) by 26,445.4% during the third quarter, Holdings Channel.com reports. The firm owned 3,072,370 shares of the company’s stock after acquiring an additional 3,060,796 shares during the period. Pictet Asset Management Holding SA’s holdings in Figma were worth $64,581,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Allen Operations LLC lifted its position in shares of Figma by 240.5% during the 3rd quarter. Allen Operations LLC now owns 79,046 shares of the company’s stock worth $1,662,000 after purchasing an additional 55,832 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Figma by 31.4% in the third quarter. International Assets Investment Management LLC now owns 20,523 shares of the company’s stock valued at $443,000 after buying an additional 4,900 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in Figma in the third quarter valued at $423,000. Kestra Advisory Services LLC increased its holdings in Figma by 3.2% in the third quarter. Kestra Advisory Services LLC now owns 25,976 shares of the company’s stock valued at $546,000 after buying an additional 803 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Figma by 2.8% in the third quarter. Commonwealth Equity Services LLC now owns 41,617 shares of the company’s stock valued at $875,000 after buying an additional 1,133 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FIG. Piper Sandler reaffirmed an “overweight” rating on shares of Figma in a report on Monday, October 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Figma in a research report on Thursday. Citigroup dropped their price objective on Figma from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank Of Canada cut their target price on Figma from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 5th. Finally, Stifel Nicolaus cut their target price on Figma from $25.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, October 14th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.80.

Insider Buying and Selling at Figma

In other Figma news, Director Lynn Vojvodich Radakovich sold 20,266 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $22.63, for a total value of $458,619.58. Following the completion of the transaction, the director owned 84,809 shares in the company, valued at $1,919,227.67. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 211,599 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $29.79, for a total value of $6,303,534.21. Following the transaction, the general counsel directly owned 727,952 shares in the company, valued at approximately $21,685,690.08. The trade was a 22.52% 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. Insiders sold 381,052 shares of company stock worth $10,495,182 over the last 90 days. Corporate insiders own 32.26% of the company’s stock.

Figma Stock Performance

Shares of Figma stock opened at $19.39 on Tuesday. The company has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $22.92. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $45.42.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.32. Figma had a negative net margin of 40.21% and a negative return on equity of 33.14%. The firm had revenue of $391.42 million for the quarter. During the same period last year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 42.8% on a year-over-year basis. Equities research analysts forecast that Figma, Inc. will post -0.75 earnings per share for the current year.

Figma Company Profile

Figma, Inc develops browser-based software for designing and building digital products. Its platform supports collaborative interface design, interactive prototyping and workflows that help teams plan, create and refine websites, apps and other digital experiences.

Figma’s products include Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and access implementation details. Figma Slides provides tools for creating and presenting slide decks.

Founded in 2012 by Dylan Field and Evan Wallace, the company serves organizations and individuals around the world through its collaborative software platform.