Figma, Inc. (NYSE:FIG – Get Free Report) has been given a consensus recommendation of “Hold” by the fourteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.56.
A number of research firms have recently weighed in on FIG. KeyCorp assumed coverage on Figma in a report on Monday, September 14th. They set a “sector weight” rating on the stock. Oppenheimer reissued a “market perform” rating on shares of Figma in a report on Thursday, June 25th. Wells Fargo & Company lowered their target price on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Bank of America raised their target price on Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th.
Figma Stock Down 1.3%
Figma (NYSE:FIG – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 during the quarter. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 48.2% on a year-over-year basis. Equities analysts forecast that Figma will post -0.75 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CRO Shaunt Voskanian sold 30,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $47,408,484.20. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 381,288 shares of Figma stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $25.13, for a total transaction of $9,581,767.44. Following the sale, the chief financial officer owned 1,725,716 shares in the company, valued at approximately $43,367,243.08. This represents a 18.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,332,269 shares of company stock worth $34,624,827. 32.26% of the stock is owned by company insiders.
Hedge Funds Weigh In On Figma
Large investors have recently bought and sold shares of the stock. Bienville Capital Management LLC acquired a new stake in shares of Figma in the 2nd quarter worth approximately $13,325,000. WINTON GROUP Ltd bought a new position in shares of Figma in the second quarter valued at approximately $340,000. Engineers Gate Manager LP increased its stake in shares of Figma by 1,806.3% during the second quarter. Engineers Gate Manager LP now owns 316,215 shares of the company’s stock valued at $5,720,000 after acquiring an additional 299,627 shares during the period. RFG Advisory LLC increased its stake in shares of Figma by 23.3% during the second quarter. RFG Advisory LLC now owns 18,622 shares of the company’s stock valued at $337,000 after acquiring an additional 3,522 shares during the period. Finally, IFP Advisors Inc raised its holdings in Figma by 176.1% during the second quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock worth $78,000 after purchasing an additional 2,760 shares in the last quarter.
About Figma
Figma, Inc is a collaborative software company that provides browser-based tools for designing, prototyping and developing digital products. Its platform enables product designers, developers, researchers, marketers and other stakeholders to work together on user interfaces and digital experiences in real time.
The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for collaborative brainstorming and whiteboarding, and Dev Mode, which helps developers inspect designs and translate them into working products.
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