Federated Hermes Inc. Invests $3.63 Million in Figma, Inc. $FIG

Federated Hermes Inc. acquired a new stake in shares of Figma, Inc. (NYSE:FIG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70,000 shares of the company’s stock, valued at approximately $3,631,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Figma during the 3rd quarter worth about $26,000. SOA Wealth Advisors LLC. purchased a new position in shares of Figma in the third quarter worth about $39,000. Tripletail Wealth Management LLC acquired a new stake in shares of Figma during the third quarter worth about $53,000. CoreCap Advisors LLC acquired a new stake in shares of Figma during the third quarter worth about $57,000. Finally, North Star Investment Management Corp. purchased a new stake in Figma in the third quarter valued at approximately $62,000.

Analyst Ratings Changes

Several analysts have commented on FIG shares. Piper Sandler decreased their price objective on shares of Figma from $70.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday. Barclays raised shares of Figma to a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Stifel Nicolaus initiated coverage on Figma in a research note on Wednesday, January 7th. They set a “hold” rating and a $40.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on Figma in a report on Monday, January 12th. They issued a “neutral” rating and a $40.00 price objective for the company. Four 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, the company presently has a consensus rating of “Hold” and a consensus price target of $47.75.

Figma Stock Performance

Shares of Figma stock opened at $21.43 on Wednesday. The stock has a 50-day moving average price of $34.60. The firm has a market capitalization of $8.91 billion and a P/E ratio of -8.00. Figma, Inc. has a fifty-two week low of $20.94 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. The firm had revenue of $274.17 million for the quarter. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.Figma’s revenue was up 38.0% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share.

Insider Buying and Selling

In related news, General Counsel Brendan Mulligan sold 5,666 shares of Figma stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $32.02, for a total value of $181,425.32. Following the sale, the general counsel owned 863,387 shares of the company’s stock, valued at approximately $27,645,651.74. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dylan Field sold 62,500 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $32.63, for a total transaction of $2,039,375.00. The disclosure for this sale is available in the SEC filing. Insiders sold 5,380,758 shares of company stock valued at $202,878,962 in the last 90 days.

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.