Figma (NYSE:FIG) Stock Price Down 5.1% – What’s Next?

Figma, Inc. (NYSE:FIG)’s stock price fell 5.1% on Tuesday . The company traded as low as $21.34 and last traded at $21.1930. 7,581,953 shares traded hands during trading, a decline of 57% from the average session volume of 17,802,047 shares. The stock had previously closed at $22.33.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FIG shares. KeyCorp assumed coverage on shares of Figma in a research note on Monday, September 14th. They issued a “sector weight” rating on the stock. Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a report on Thursday, August 6th. Morgan Stanley set a $33.00 price objective on shares of Figma in a research note on Thursday, August 6th. Piper Sandler reissued an “overweight” rating and issued a $30.00 target price on shares of Figma in a research note on Thursday, June 25th. Finally, Citigroup boosted their price target on Figma from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.56.

Figma Stock Down 0.3%

The company has a market capitalization of $9.89 billion and a P/E ratio of -5.97. The company has a 50-day moving average of $24.59 and a two-hundred day moving average of $22.46.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $370.08 million during the quarter. During the same quarter last year, the company posted $0.09 EPS. Figma’s revenue for the quarter was up 48.2% compared to the same quarter last year. As a group, equities analysts expect that Figma, Inc. will post -0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Tyler Herb sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $26.29, for a total value of $37,226.64. Following the sale, the chief accounting officer owned 249,386 shares in the company, valued at $6,556,357.94. This represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 30,000 shares of Figma stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $27.91, for a total value of $837,300.00. Following the transaction, the executive owned 1,698,620 shares of the company’s stock, valued at $47,408,484.20. The trade was a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,332,269 shares of company stock valued at $34,624,827. Insiders own 32.26% of the company’s stock.

Institutional Investors Weigh In On Figma

Institutional investors have recently modified their holdings of the stock. Bienville Capital Management LLC purchased a new position in shares of Figma in the 2nd quarter worth about $13,325,000. WINTON GROUP Ltd purchased a new stake in Figma during the 2nd quarter valued at about $340,000. Engineers Gate Manager LP increased its stake in Figma by 1,806.3% during the 2nd quarter. Engineers Gate Manager LP now owns 316,215 shares of the company’s stock valued at $5,720,000 after purchasing an additional 299,627 shares in the last quarter. RFG Advisory LLC increased its stake in Figma by 23.3% during the 2nd quarter. RFG Advisory LLC now owns 18,622 shares of the company’s stock valued at $337,000 after purchasing an additional 3,522 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Figma by 176.1% in the second quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock worth $78,000 after buying an additional 2,760 shares during the last quarter.

Figma Company Profile

Figma, Inc develops collaborative software for designing, prototyping and building digital products. Its cloud-based platform enables product designers, developers, marketers and other stakeholders to work together in real time on user interfaces, prototypes and digital experiences.

The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and translate them into code.