Fulcrum Asset Management LLP Acquires 121,117 Shares of Figma, Inc. $FIG

Fulcrum Asset Management LLP acquired a new stake in Figma, Inc. (NYSE:FIG) during the third quarter, Holdings Channel.com reports. The fund acquired 121,117 shares of the company’s stock, valued at approximately $2,510,000.

A number of other large investors have also recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after buying an additional 1,167 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Figma by 287.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock worth $47,000 after acquiring an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC acquired a new stake in shares of Figma in the 1st quarter worth about $74,000. IFP Advisors Inc raised 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 acquiring an additional 2,760 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in Figma in the 2nd quarter valued at about $203,000.

Analyst Ratings Changes

A number of research firms have issued reports on FIG. Piper Sandler reiterated an “overweight” rating on shares of Figma in a research note on Monday, October 26th. JPMorgan Chase & Co. lowered their price objective on Figma from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th. Morgan Stanley set a $33.00 target price on Figma in a report on Thursday, August 6th. Bank of America lifted their target price on Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings downgraded Figma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.80.

Insider Buying and Selling at Figma

In other Figma news, CAO Tyler Herb sold 1,418 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $21.62, for a total value of $30,657.16. Following the completion of the sale, the chief accounting officer owned 246,130 shares of the company’s stock, valued at $5,321,330.60. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 11,599 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $21.30, for a total transaction of $247,058.70. Following the completion of the sale, the general counsel directly owned 555,656 shares of the company’s stock, valued at $11,835,472.80. This represents a 2.04% 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. Insiders have 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 Price Performance

FIG opened at $18.64 on Wednesday. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $45.42. The company’s 50-day moving average is $22.25 and its 200 day moving average is $22.88.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.32. The firm had revenue of $391.42 million during the quarter. Figma had a negative return on equity of 32.80% and a negative net margin of 40.21%. The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, equities research analysts anticipate that Figma, Inc. will post -0.75 EPS for the current fiscal 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.