Shares of Figma, Inc. (NYSE:FIG – Get Free Report) have earned an average recommendation of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.33.
Several brokerages recently weighed in on FIG. Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Stifel Nicolaus cut their target price on Figma from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, October 14th. Piper Sandler reiterated an “overweight” rating on shares of Figma in a research report on Monday. Bank of America upped their price target on Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company decreased their price target on Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, October 12th.
Check Out Our Latest Stock Analysis on FIG
Insiders Place Their Bets
In other Figma news, Director Daniel Rimer sold 12,475 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.39, for a total transaction of $316,740.25. Following the completion of the transaction, the director owned 786,700 shares in the company, valued at approximately $19,974,313. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brendan Mulligan sold 20,701 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $21.74, for a total transaction of $450,039.74. Following the completion of the transaction, the general counsel owned 579,274 shares in the company, valued at $12,593,416.76. This trade represents a 3.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 674,763 shares of company stock valued at $18,174,484 over the last three months. Insiders own 32.26% of the company’s stock.
Hedge Funds Weigh In On Figma
A number of hedge funds have recently bought and sold shares of the company. Amova Asset Management Americas Inc. grew its holdings in shares of Figma by 641.4% during the first quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company’s stock valued at $31,031,000 after buying an additional 1,269,900 shares during the last quarter. Greylock XIV GP LLC bought a new stake in shares of Figma during the second quarter worth about $1,056,824,403. Rokos Capital Management LLP bought a new stake in shares of Figma during the first quarter worth about $4,414,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Figma in the 1st quarter worth about $3,429,000. Finally, Entropy Technologies LP acquired a new stake in shares of Figma in the 1st quarter worth about $2,263,000.
Figma Trading Down 3.0%
Figma stock opened at $21.66 on Friday. The company has a market capitalization of $9.86 billion, a PE ratio of -5.95 and a beta of 1.32. The stock has a 50-day moving average price of $23.36 and a two-hundred day moving average price of $23.23. Figma has a 12 month low of $16.60 and a 12 month high of $50.30.
Figma (NYSE:FIG – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%. The company had revenue of $370.08 million during the quarter. During the same period in the prior year, the company earned $0.09 EPS. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. As a group, analysts predict that Figma will post -0.75 earnings per share for the current fiscal year.
About Figma
Figma, Inc (NYSE: FIG) develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.
The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.
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