Shares of Figma, Inc. (NYSE:FIG – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $17.98, but opened at $18.95. Figma shares last traded at $19.0050, with a volume of 5,266,113 shares.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Citigroup started coverage on shares of Figma in a report on Wednesday. They set a “buy” rating and a $36.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. JPMorgan Chase & Co. reduced their price objective on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target (down from $35.00) on shares of Figma in a research note on Friday, May 15th. Finally, BTIG Research started coverage on Figma in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.33.
View Our Latest Stock Report on Figma
Figma Trading Up 6.8%
Figma (NYSE:FIG – Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The company’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, equities research analysts expect that Figma, Inc. will post -0.78 EPS for the current year.
Insider Activity at Figma
In related news, CFO Praveer Melwani sold 83,974 shares of Figma stock in a transaction that occurred 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 sale, the chief financial officer owned 1,749,024 shares of the company’s stock, valued at approximately $39,825,276.48. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the sale, the executive directly owned 1,781,380 shares in the company, valued at $40,989,553.80. This trade represents a 4.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 694,220 shares of company stock valued at $17,023,005 in the last 90 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FIG. Jones Financial Companies Lllp bought a new position in shares of Figma during the 3rd quarter worth $107,000. Vanguard Group Inc. bought a new position in shares of Figma during the 3rd quarter worth $2,282,000. Greenland Capital Management LP bought a new position in shares of Figma during the 3rd quarter worth $288,000. US Bancorp DE bought a new position in shares of Figma during the 3rd quarter worth $31,000. Finally, Lansing Street Advisors bought a new position in shares of Figma during the 3rd quarter worth $623,000.
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.
Featured Stories
- Five stocks we like better than Figma
- Draining the Tank: Big Oil Runs on Fumes
- Microsoft’s Xbox Problem Is Bigger Than a Console War
- Dave & Buster’s Q1 Miss Raises the Stakes for Its Turnaround Plan
- Flying Under the Radar: Lockheed Martin’s $2.8B Stealth Setup
Receive News & Ratings for Figma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Figma and related companies with MarketBeat.com's FREE daily email newsletter.
