Figma, Inc. (NYSE:FIG – Get Free Report)’s share price dropped 5.7% on Tuesday . The company traded as low as $22.80 and last traded at $22.6590. 3,864,376 shares traded hands during trading, a decline of 78% from the average daily volume of 17,467,949 shares. The stock had previously closed at $24.02.
Wall Street Analysts Forecast Growth
FIG has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Figma in a research report on Thursday, June 25th. Royal Bank Of Canada decreased their target price on shares of Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. JPMorgan Chase & Co. lowered their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Bank of America began coverage on shares of Figma in a research note on Tuesday, July 7th. They set a “buy” rating and a $30.00 price target on the stock. Finally, BTIG Research started coverage on shares of Figma in a research report 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.67.
Check Out Our Latest Stock Analysis on Figma
Figma Price Performance
Figma (NYSE:FIG – Get Free Report) last released its quarterly earnings data 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 business had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm’s revenue was up 46.1% on a year-over-year basis. As a group, equities analysts forecast that Figma, Inc. will post -0.79 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CTO Kris Rasmussen sold 327,046 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief technology officer directly owned 9,771,529 shares in the company, valued at $244,972,232.03. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tyler Herb sold 1,850 shares of Figma stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.40, for a total value of $48,840.00. Following the sale, the chief accounting officer directly owned 263,435 shares in the company, valued at $6,954,684. The trade was a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 733,309 shares of company stock valued at $17,824,756 in the last ninety days. Insiders own 32.26% of the company’s stock.
Institutional Investors Weigh In On Figma
A number of hedge funds and other institutional investors have recently modified their holdings of FIG. Gladstone Capital Management LLP boosted its holdings in shares of Figma by 2.9% in the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock valued at $638,000 after acquiring an additional 481 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Figma in the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in Figma during the 3rd quarter valued at $27,000. Charles Schwab Investment Management Inc. boosted its stake in Figma by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock valued at $568,000 after purchasing an additional 559 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Figma during the 3rd quarter valued at $30,000.
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.
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