Figma (NYSE:FIG) Earns Overweight Rating from Piper Sandler

Figma (NYSE:FIG)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 price objective on the stock. Piper Sandler’s target price would indicate a potential upside of 60.77% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Royal Bank Of Canada cut their target price on Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Friday, May 15th. Morgan Stanley lowered their price target on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 15th. Stifel Nicolaus set a $25.00 price objective on Figma in a report on Friday, May 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Finally, BTIG Research began coverage on Figma in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Five 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 data from MarketBeat, Figma currently has an average rating of “Hold” and an average price target of $38.33.

Figma Trading Down 1.7%

Shares of NYSE:FIG opened at $18.66 on Thursday. The stock has a market capitalization of $8.32 billion and a P/E ratio of -5.44. The stock’s 50-day moving average price is $20.35 and its 200-day moving average price is $25.94. Figma has a 12-month low of $16.60 and a 12-month high of $142.92.

Figma (NYSE:FIG) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.Figma’s revenue was up 46.1% on a year-over-year basis. As a group, research analysts predict that Figma will post -0.78 EPS for the current year.

Insider Transactions at Figma

In other news, CFO Praveer Melwani sold 83,974 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98. Following the completion of the transaction, the chief financial officer owned 1,749,024 shares in the company, valued at $39,825,276.48. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total value of $8,199,043.22. Following the sale, the chief technology officer owned 9,771,529 shares in the company, valued at $244,972,232.03. This represents a 3.24% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 694,220 shares of company stock worth $17,023,005. 45.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Gladstone Capital Management LLP boosted its stake in Figma by 2.9% during the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock worth $638,000 after acquiring an additional 481 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Figma during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Figma during the third quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Figma by 3.8% during the fourth 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 during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Figma in the 3rd quarter worth approximately $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.