Renaissance Capital LLC Acquires New Stake in Figma, Inc. $FIG

Renaissance Capital LLC bought a new stake in Figma, Inc. (NYSE:FIG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 47,028 shares of the company’s stock, valued at approximately $2,439,000. Figma comprises approximately 1.4% of Renaissance Capital LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds also recently bought and sold shares of the stock. Tripletail Wealth Management LLC acquired a new stake in Figma during the third quarter worth approximately $53,000. VERITY Wealth Advisors acquired a new position in Figma in the third quarter valued at $519,000. Finally, Voya Investment Management LLC acquired a new position in Figma in the third quarter valued at $3,412,000.

Figma Price Performance

Shares of NYSE FIG opened at $37.56 on Wednesday. The business’s fifty day moving average is $40.87. Figma, Inc. has a 1-year low of $32.83 and a 1-year high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.56) by $1.66. The firm had revenue of $274.17 million during the quarter. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FIG. JPMorgan Chase & Co. reduced their target price on Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. William Blair reaffirmed an “outperform” rating on shares of Figma in a research report on Thursday, September 4th. Morgan Stanley decreased their price objective on Figma from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, September 4th. The Goldman Sachs Group lifted their target price on shares of Figma from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Piper Sandler lowered their price objective on shares of Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.86.

Insider Activity at Figma

In related news, CRO Shaunt Voskanian sold 403,335 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $43.39, for a total transaction of $17,500,705.65. Following the sale, the executive owned 1,617,326 shares of the company’s stock, valued at $70,175,775.14. This trade represents a 19.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brendan Mulligan sold 80,934 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $43.47, for a total transaction of $3,518,200.98. Following the sale, the general counsel directly owned 913,181 shares in the company, valued at $39,695,978.07. This represents a 8.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,954,256 shares of company stock valued at $189,878,277.

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.