Figma, Inc. (NYSE:FIG – Get Free Report)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $23.27, but opened at $22.43. Figma shares last traded at $22.2930, with a volume of 5,794,781 shares traded.
Analyst Upgrades and Downgrades
A number of brokerages have commented on FIG. JPMorgan Chase & Co. cut 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 restated an “overweight” rating and set a $30.00 price objective (down from $35.00) on shares of Figma in a research report on Friday, May 15th. BTIG Research began coverage on shares of Figma in a research report on Monday, April 13th. They set a “neutral” rating for the company. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research report on Friday, May 15th. Finally, Wells Fargo & Company cut their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Four research 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 currently has an average rating of “Hold” and a consensus target price of $38.63.
Check Out Our Latest Report on FIG
Figma Trading Down 3.9%
Figma (NYSE:FIG – Get Free Report) last posted its quarterly 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. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business had revenue of $333.44 million for the quarter. The firm’s revenue was up 46.1% on a year-over-year basis. On average, sell-side analysts forecast that Figma, Inc. will post -0.69 earnings per share for the current fiscal year.
Insider Buying and Selling at Figma
In other news, CRO Shaunt Voskanian sold 8,554 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $30.00, for a total transaction of $256,620.00. Following the transaction, the executive directly owned 1,580,181 shares of the company’s stock, valued at $47,405,430. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dylan Field sold 250,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $30.80, for a total transaction of $7,700,000.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 745,697 shares of company stock worth $22,665,009.
Hedge Funds Weigh In On Figma
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SC US Ttgp LTD. raised its position in Figma by 5.8% during the first quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after acquiring an additional 1,466,851 shares during the last quarter. ICONIQ Capital LLC acquired a new position in Figma during the third quarter worth about $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in Figma during the third quarter worth about $842,687,000. JPMorgan Chase & Co. raised its position in Figma by 119.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after acquiring an additional 3,615,198 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in Figma by 93.8% during the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after acquiring an additional 2,789,986 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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