Figma (NYSE:FIG) Trading Up 6% – Here’s What Happened

Figma, Inc. (NYSE:FIG) rose 6% on Monday . The stock traded as high as $22.23 and last traded at $22.3780. Approximately 3,768,707 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 17,197,531 shares. The stock had previously closed at $21.11.

Analyst Ratings Changes

FIG has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Wells Fargo & Company cut their target price on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a report on Thursday, June 25th. Royal Bank Of Canada dropped their price objective on Figma from $28.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 25th. Finally, Bank of America began coverage on shares of Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 price objective 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.67.

Figma Trading Up 10.9%

The company’s 50-day simple moving average is $20.79 and its 200 day simple moving average is $24.46. The stock has a market cap of $10.44 billion and a P/E ratio of -6.81.

Figma (NYSE:FIG) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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%.The firm’s revenue was up 46.1% compared to the same quarter last year. Research analysts anticipate that Figma, Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Transactions at Figma

In other news, General Counsel Brendan Mulligan sold 18,741 shares of Figma stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $25.04, for a total transaction of $469,274.64. Following the sale, the general counsel directly owned 987,986 shares in the company, valued at $24,739,169.44. The trade was a 1.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.02, for a total value of $4,364,238.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 733,309 shares of company stock worth $17,824,756. Company insiders own 45.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FIG. NewEdge Advisors LLC bought a new stake in Figma during the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Figma in the third quarter valued at about $27,000. Sunbelt Securities Inc. purchased a new position in shares of Figma in the third quarter valued at about $30,000. US Bancorp DE bought a new position in shares of Figma during the third quarter valued at about $31,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Figma during the third quarter worth about $33,000.

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.