Syon Capital LLC Acquires Shares of 173,120 Figma, Inc. $FIG

Syon Capital LLC acquired a new stake in Figma, Inc. (NYSE:FIG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 173,120 shares of the company’s stock, valued at approximately $6,469,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIG. NewEdge Advisors LLC acquired a new position in Figma in the 3rd quarter valued at $26,000. Concord Wealth Partners raised its holdings in Figma by 1,446.8% in the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after acquiring an additional 680 shares in the last quarter. Harbour Investments Inc. raised its holdings in Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Figma in the 3rd quarter valued at $27,000. Finally, Sunbelt Securities Inc. acquired a new position in Figma in the 3rd quarter valued at $30,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley dropped their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Stifel Nicolaus set a $25.00 price objective on Figma in a report on Friday, May 15th. The Goldman Sachs Group set a $35.00 price objective on Figma in a report on Thursday, February 19th. Oppenheimer assumed coverage on Figma in a report on Wednesday, March 25th. They issued a “market perform” rating for the company. Finally, BTIG Research initiated coverage on Figma in a report on Monday, April 13th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.63.

Insider Buying and Selling

In other news, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total value of $8,199,043.22. Following the transaction, the chief technology officer owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 83,974 shares of Figma stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98. Following the completion of the transaction, the chief financial officer owned 1,749,024 shares in the company, valued at approximately $39,825,276.48. The trade was a 4.58% decrease in their position. 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. In the last 90 days, insiders have sold 699,037 shares of company stock worth $17,149,692. 45.20% of the stock is owned by company insiders.

Figma Stock Performance

Shares of FIG opened at $21.73 on Friday. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $142.92. The business’s fifty day moving average is $20.69 and its 200-day moving average is $27.55. The firm has a market cap of $9.68 billion and a price-to-earnings ratio of -6.33.

Figma (NYSE:FIG) last issued its quarterly 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 return on equity of 98.51% and a negative net margin of 123.83%.The company had revenue of $333.44 million for the quarter. The company’s revenue for the quarter was up 46.1% on a year-over-year basis. As a group, research analysts forecast that Figma, Inc. will post -0.78 EPS for the current fiscal year.

About Figma

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.