FIG
Big money still likes the software darling
Baillie Gifford & Co. told the market it boosted its Figma stake by 93.8% in the fourth quarter, buying 2,789,986 shares and taking its total to 5,763,613 shares — roughly 1.39% of the company, worth about $215.4 million.
That’s not exactly pocket change. When a big-name long-term investor adds that much, it usually says one of two things: either they think the story still has legs, or they’re extremely committed to the “buy the dip and then some” school of investing.
The institutional crowd is still circling
Baillie Gifford wasn’t alone. The article says several heavyweight funds, including SC US Ttgp LTD, ICONIQ Capital, and a16z, also built new positions in Figma in the third quarter. Translation: smart-money types are still lining up around the company, even if the stock has been acting like it skipped leg day.
But the insider selling is hard to ignore
Here’s the little wrinkle that keeps this from being a pure victory lap:
- CEO Dylan Field sold 250,000 shares, worth about $7.7 million
- Insiders sold about 1,378,811 shares over the past 90 days
- The stock was trading around $18.12, way below its 52-week high of $142.92
So yes, institutions are buying. But insiders have also been cashing out, and that’s the kind of mixed signal that makes investors squint at the screen and ask, “Okay, who knows something?”
Why you should care
Figma just posted a recent earnings beat and 40% revenue growth, so the business itself isn’t exactly in distress. Still, the gap between those fundamentals and the battered share price tells you the market is either deeply skeptical or just waiting for the next proof point.
Big picture: Figma is getting support from big institutional buyers, but insider selling and a still-saggy stock price mean this story is more “watch closely” than “pop the champagne.”