Figma, Inc. (NYSE:FIG) Stock Has Consensus Target Price of $31.56 According to Brokerages

Figma, Inc. (NYSE:FIG) has earned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $31.56.

FIG has been the topic of several research reports. Citigroup lifted their price objective on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Stifel Nicolaus reduced their price objective on shares of Figma from $25.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, October 14th. KeyCorp initiated coverage on shares of Figma in a research report on Monday, September 14th. They issued a “sector weight” rating on the stock. Morgan Stanley set a $33.00 price target on Figma in a research report on Thursday, August 6th. Finally, Wells Fargo & Company cut their price objective on shares of Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, October 12th.

Insider Transactions at Figma

In other Figma news, CTO Kris Rasmussen sold 261,301 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $25.07, for a total transaction of $6,550,816.07. Following the completion of the sale, the chief technology officer owned 9,492,946 shares of the company’s stock, valued at $237,988,156.22. This represents a 2.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total value of $837,300.00. Following the completion of the sale, the executive directly owned 1,698,620 shares in the company, valued at $47,408,484.20. The trade was a 1.74% decrease in their ownership of the stock. 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 three months, insiders have sold 1,335,565 shares of company stock valued at $34,762,393. 32.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Figma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Figma by 287.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock worth $47,000 after buying an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC purchased a new position in shares of Figma in the 1st quarter worth $74,000. IFP Advisors Inc grew its holdings in shares of 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 acquiring an additional 2,760 shares during the period. Finally, North Star Investment Management Corp. grew its holdings in shares of Figma by 138.9% in the first quarter. North Star Investment Management Corp. now owns 4,300 shares of the company’s stock worth $91,000 after acquiring an additional 2,500 shares during the period.

Figma Stock Performance

NYSE:FIG opened at $24.69 on Friday. Figma has a 52 week low of $16.60 and a 52 week high of $55.48. The firm has a 50-day moving average price of $23.67 and a two-hundred day moving average price of $22.12. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of -6.78 and a beta of 1.32.

Figma (NYSE:FIG) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. The company had revenue of $370.08 million during the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%. The business’s revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, sell-side analysts forecast that Figma will post -0.75 earnings per share for the current year.

Figma Company Profile

Figma, Inc (NYSE: FIG) develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.

The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.