Figma, Inc. (NYSE:FIG) Receives Consensus Recommendation of “Hold” from Brokerages

Figma, Inc. (NYSE:FIG) has earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $32.6667.

FIG has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on shares of Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, June 25th. JPMorgan Chase & Co. decreased their target price on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Citigroup began coverage on Figma in a research note on Wednesday, June 17th. They issued a “buy” rating and a $36.00 price target for the company. Stifel Nicolaus set a $25.00 price target on shares of Figma in a report on Friday, May 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th.

Figma Price Performance

Shares of Figma stock opened at $23.52 on Thursday. The business’s 50 day simple moving average is $21.08 and its two-hundred day simple moving average is $24.14. The stock has a market capitalization of $10.48 billion and a P/E ratio of -6.86. Figma has a one year low of $16.60 and a one year high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data 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. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm had revenue of $333.44 million during the quarter. Figma’s revenue was up 46.1% compared to the same quarter last year. Sell-side analysts expect that Figma will post -0.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Figma

In other news, CFO Praveer Melwani sold 30,460 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.48, for a total value of $623,820.80. Following the sale, the chief financial officer directly owned 1,711,526 shares of the company’s stock, valued at $35,052,052.48. This represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tyler Herb sold 1,850 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.40, for a total transaction 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. In the last 90 days, insiders sold 733,309 shares of company stock worth $17,824,756. Insiders own 32.26% of the company’s stock.

Institutional Trading of Figma

A number of hedge funds have recently made changes to their positions in FIG. Parallel Advisors LLC raised its position in shares of Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after purchasing an additional 1,167 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Figma during the third quarter valued at approximately $26,000. DV Equities LLC purchased a new stake in shares of Figma during the fourth quarter valued at approximately $26,000. Concord Wealth Partners increased its position in shares of Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after acquiring an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after acquiring an additional 690 shares during the last quarter.

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.