Figma (NYSE:FIG) Reaches New 52-Week Low – Here’s What Happened

Shares of Figma, Inc. (NYSE:FIG) hit a new 52-week low during trading on Thursday . The company traded as low as $16.68 and last traded at $16.8590, with a volume of 10702356 shares trading hands. The stock had previously closed at $17.18.

Analysts Set New Price Targets

FIG has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $35.00 price target on Figma in a research note on Thursday, February 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Figma in a research note on Thursday, February 19th. Morgan Stanley set a $44.00 price target on Figma in a research note on Thursday, February 19th. Oppenheimer initiated coverage on Figma in a research report on Wednesday, March 25th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus decreased their price objective on Figma from $40.00 to $30.00 and set a “hold” 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Figma presently has an average rating of “Hold” and a consensus price target of $43.25.

Figma Stock Performance

The company has a 50-day moving average of $23.11 and a 200-day moving average of $32.50. The firm has a market capitalization of $8.31 billion and a price-to-earnings ratio of -6.00.

Figma (NYSE:FIG) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The business had revenue of $303.78 million during the quarter. The company’s revenue was up 40.1% on a year-over-year basis. As a group, analysts anticipate that Figma, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In other Figma news, CRO Shaunt Voskanian sold 8,554 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $30.00, for a total transaction of $256,620.00. Following the completion of the transaction, the executive 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 legal filing with the SEC, which is available through this link. Also, Director Andrew Phillips Reed purchased 912,749 shares of Figma stock in a transaction on Monday, February 23rd. The shares were purchased at an average cost of $24.30 per share, with a total value of $22,179,800.70. Following the transaction, the director owned 1,466,852 shares in the company, valued at approximately $35,644,503.60. The trade was a 164.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 1,060,645 shares of company stock worth $30,526,164. 45.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Figma

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Figma by 23.8% during the 1st quarter. International Assets Investment Management LLC now owns 15,313 shares of the company’s stock worth $313,000 after acquiring an additional 2,942 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in Figma during the 1st quarter worth approximately $3,429,000. Fifth Third Bancorp acquired a new position in Figma during the 1st quarter worth approximately $1,115,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Figma by 613.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,467,887 shares of the company’s stock worth $31,031,000 after acquiring an additional 1,262,258 shares during the last quarter. Finally, West Tower Group LLC acquired a new position in Figma during the 1st quarter worth approximately $444,000.

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.