Clear Street Group Inc. Invests $10.65 Million in Figma, Inc. $FIG

Clear Street Group Inc. bought a new position in shares of Figma, Inc. (NYSE:FIG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 285,003 shares of the company’s stock, valued at approximately $10,651,000.

A number of other institutional investors also recently modified their holdings of FIG. Truist Financial Corp purchased a new stake in shares of Figma during the third quarter worth about $314,000. Jones Financial Companies Lllp purchased a new stake in Figma in the third quarter worth about $107,000. RFG Advisory LLC purchased a new stake in Figma in the third quarter worth about $431,000. Alphabet Inc. purchased a new stake in Figma in the third quarter worth about $11,182,000. Finally, Vanguard Group Inc. purchased a new stake in Figma in the third quarter worth about $2,282,000.

Insider Activity

In other news, General Counsel Brendan Mulligan sold 18,741 shares of Figma stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64. Following the completion of the transaction, the general counsel directly owned 987,986 shares in the company, valued at approximately $24,739,169.44. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of Figma stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the transaction, the executive owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. The trade was a 4.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 699,037 shares of company stock valued at $17,149,692. 45.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on FIG shares. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler restated an “overweight” rating and issued a $30.00 price objective (down from $35.00) on shares of Figma in a report on Friday, May 15th. Royal Bank Of Canada lowered their price objective on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Finally, Morgan Stanley lowered their price objective on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.63.

Figma Stock Performance

FIG stock opened at $18.55 on Friday. The firm has a 50 day moving average price of $20.59 and a 200-day moving average price of $27.00. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $142.92. The firm has a market capitalization of $8.27 billion and a price-to-earnings ratio of -5.41.

Figma (NYSE:FIG) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million during the quarter. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Figma, Inc. will post -0.78 earnings per share for the current fiscal year.

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.