Figma, Inc. (NYSE:FIG – Get Free Report)’s share price traded down 4.2% during mid-day trading on Wednesday . The company traded as low as $24.02 and last traded at $23.8250. 2,482,915 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 18,289,518 shares. The stock had previously closed at $24.87.
Wall Street Analyst Weigh In
Several equities analysts recently commented on FIG shares. Wells Fargo & Company reduced their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Stifel Nicolaus set a $25.00 price target on shares of Figma in a report on Friday, May 15th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price objective on shares of Figma in a research report on Thursday, June 25th. Citigroup lifted their price objective on Figma from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Bank of America initiated coverage on Figma in a research report on Tuesday, July 7th. They set a “buy” rating and a $30.00 target price for the company. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.22.
Check Out Our Latest Research Report on Figma
Figma Stock Performance
Figma (NYSE:FIG – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million for the quarter. During the same period in the previous year, the company earned $0.09 EPS. Figma’s quarterly revenue was up 48.2% on a year-over-year basis. As a group, analysts anticipate that Figma, Inc. will post -0.79 earnings per share for the current year.
Insider Buying and Selling at Figma
In other news, CRO Shaunt Voskanian sold 30,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total transaction of $837,300.00. Following the transaction, the executive directly owned 1,698,620 shares in the company, valued at approximately $47,408,484.20. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $26.63, for a total value of $1,065,200.00. Following the transaction, the chief financial officer directly owned 1,674,544 shares in the company, valued at approximately $44,593,106.72. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,675,578 shares of company stock valued at $41,729,080. 32.26% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Greylock XIV GP LLC purchased a new stake in shares of Figma in the 2nd quarter valued at $1,056,824,403,000. Fluent Financial LLC bought a new position in shares of Figma during the 2nd quarter valued at $765,000. Valeo Financial Advisors LLC purchased a new position in Figma in the 2nd quarter worth $203,000. Parallel Advisors LLC lifted its stake in Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after purchasing an additional 1,167 shares during the last quarter. Finally, J. Derek Lewis & Associates Inc. lifted its stake in Figma by 58.6% in the first quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company’s stock worth $429,000 after purchasing an additional 7,500 shares during the last quarter.
Figma Company 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.
Read More
- Five stocks we like better than Figma
- Intel’s Rally Gave It a $20 Billion Opportunity and Now Comes the Hard Part
- Visa’s AI Opportunity Is Hiding in Every Transaction
- On Holding’s Price Stumble May Be an Opening for a Company Built to Run
- TSMC’s 44.7% Sales Surge Signals the AI Boom Is Still Alive
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.
