ICONIQ Capital LLC Lowers Stock Holdings in Figma, Inc. $FIG

ICONIQ Capital LLC lessened its position in Figma, Inc. (NYSE:FIG) by 99.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,151 shares of the company’s stock after selling 5,793,569 shares during the quarter. ICONIQ Capital LLC’s holdings in Figma were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FIG. Parallel Advisors LLC lifted its holdings in Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Figma in the third quarter valued at $26,000. DV Equities LLC acquired a new stake in shares of Figma in the fourth quarter valued at $26,000. Harbour Investments Inc. boosted its holdings in Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Figma during the 3rd quarter worth $27,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $25.00 price target on Figma in a report on Friday, May 15th. Bank of America boosted their price objective on Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Morgan Stanley set a $33.00 target price on shares of Figma in a research note on Thursday, August 6th. Wells Fargo & Company reduced their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus target price of $32.56.

Figma Price Performance

Shares of NYSE:FIG opened at $28.88 on Monday. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $71.48. The firm has a market capitalization of $13.14 billion and a P/E ratio of -7.93. The company’s fifty day moving average price is $23.47 and its 200 day moving average price is $22.80.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The company had revenue of $370.08 million during the quarter. During the same quarter in the prior year, the company earned $0.09 EPS. The business’s revenue was up 48.2% on a year-over-year basis. On average, sell-side analysts anticipate that Figma, Inc. will post -0.75 EPS for the current year.

Insider Transactions at Figma

In other Figma news, CRO Shaunt Voskanian sold 30,000 shares of Figma stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total transaction of $837,300.00. Following the transaction, the executive owned 1,698,620 shares of the company’s stock, valued at $47,408,484.20. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel H. Rimer sold 12,475 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.39, for a total value of $316,740.25. Following the completion of the sale, the director owned 786,700 shares of the company’s stock, valued at approximately $19,974,313. This represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,179,632 shares of company stock worth $29,315,186. 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.