Figma, Inc. $FIG Stock Acquired by AlpInvest Partners B.V.

AlpInvest Partners B.V. raised its stake in Figma, Inc. (NYSE:FIG) by 50.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 226,899 shares of the company’s stock after purchasing an additional 75,658 shares during the quarter. Figma accounts for about 5.8% of AlpInvest Partners B.V.’s portfolio, making the stock its 6th largest position. AlpInvest Partners B.V.’s holdings in Figma were worth $4,769,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after acquiring an additional 1,167 shares during the last quarter. Three Bridge Wealth Advisors LLC purchased a new stake in Figma during the third quarter valued at about $42,000. Sunbelt Securities Inc. lifted its stake in Figma by 287.0% during the first quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock worth $47,000 after purchasing an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC bought a new stake in Figma during the first quarter worth about $74,000. Finally, IFP Advisors Inc boosted its holdings in shares of Figma by 176.1% in the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock worth $78,000 after purchasing an additional 2,760 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on FIG shares. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research report on Thursday, November 5th. Weiss Ratings downgraded Figma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. KeyCorp assumed coverage on Figma in a research note on Monday, September 14th. They issued a “sector weight” rating for the company. Citigroup reduced their price target on shares of Figma from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Figma from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Figma currently has an average rating of “Hold” and an average target price of $28.80.

Insiders Place Their Bets

In other news, major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $18.97, for a total value of $236,650.75. Following the transaction, the insider owned 751,075 shares of the company’s stock, valued at $14,247,892.75. This trade represents a 1.63% 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. Also, General Counsel Brendan Mulligan sold 11,599 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $21.30, for a total value of $247,058.70. Following the completion of the transaction, the general counsel directly owned 555,656 shares of the company’s stock, valued at approximately $11,835,472.80. This trade represents a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 406,002 shares of company stock valued at $10,968,484. 32.26% of the stock is currently owned by corporate insiders.

Figma Price Performance

Shares of Figma stock opened at $19.41 on Friday. The business has a fifty day simple moving average of $21.83 and a two-hundred day simple moving average of $22.73. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $41.24.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.32. The company had revenue of $391.42 million during the quarter. Figma had a negative net margin of 40.21% and a negative return on equity of 32.80%. Figma’s revenue was up 42.8% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, sell-side analysts anticipate that Figma, Inc. will post -0.68 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.