Figma, Inc. (NYSE:FIG – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $21.08, but opened at $22.33. Figma shares last traded at $21.9550, with a volume of 4,197,750 shares.
Wall Street Analyst Weigh In
FIG has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and issued a $30.00 price objective on shares of Figma in a research report on Thursday, June 25th. Citigroup began coverage on shares of Figma in a research report on Wednesday, June 17th. They set a “buy” rating and a $36.00 target price on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. BTIG Research initiated coverage on Figma in a report on Monday, April 13th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Figma currently has a consensus rating of “Hold” and a consensus price target of $32.67.
Check Out Our Latest Stock Report on Figma
Figma Price Performance
Figma (NYSE:FIG – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business’s quarterly revenue was up 46.1% compared to the same quarter last year. Equities research analysts forecast that Figma, Inc. will post -0.78 EPS for the current fiscal year.
Insider Transactions at Figma
In other Figma news, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction dated 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 $244,972,232.03. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.02, for a total transaction of $4,364,238.60. 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 quarter, insiders sold 694,220 shares of company stock worth $17,023,005.
Institutional Trading of Figma
A number of institutional investors have recently modified their holdings of FIG. Parallel Advisors LLC raised its stake in shares of Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after acquiring an additional 1,167 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Figma in the third quarter valued at approximately $26,000. DV Equities LLC acquired a new stake in Figma in the fourth quarter valued at approximately $26,000. Concord Wealth Partners grew its holdings in Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after purchasing an additional 680 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after purchasing an additional 690 shares during the last quarter.
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.
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