Figma (NYSE:FIG) Hits New 12-Month Low – Here’s Why

Figma, Inc. (NYSE:FIG) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $19.70 and last traded at $20.3040, with a volume of 896896 shares traded. The stock had previously closed at $20.42.

Wall Street Analyst Weigh In

FIG has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Figma in a research note on Thursday, February 19th. Oppenheimer started coverage on shares of Figma in a research note on Wednesday, March 25th. They set a “market perform” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Finally, Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.25.

Figma Price Performance

The firm has a market capitalization of $9.08 billion and a PE ratio of -6.58. The company has a fifty day moving average of $25.49 and a 200-day moving average of $37.87.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The company had revenue of $303.78 million for the quarter. The firm’s quarterly revenue was up 40.1% on a year-over-year basis.

Insider Buying and Selling

In related news, CTO Kris Rasmussen sold 205,438 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $25.01, for a total transaction of $5,138,004.38. Following the transaction, the chief technology officer owned 10,418,905 shares of the company’s stock, valued at approximately $260,576,814.05. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Phillips Reed bought 912,749 shares of Figma stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $24.30 per share, with a total value of $22,179,800.70. Following the completion of the purchase, the director directly owned 1,466,852 shares of the company’s stock, valued at approximately $35,644,503.60. The trade was a 164.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 1,616,377 shares of company stock worth $49,751,858. Insiders own 45.20% of the company’s stock.

Institutional Investors Weigh In On Figma

A number of large investors have recently bought and sold shares of the business. SC US Ttgp LTD. acquired a new position in Figma during the third quarter worth $1,310,305,000. ICONIQ Capital LLC acquired a new stake in shares of Figma in the third quarter worth about $1,108,879,000. a16z Capital Management L.L.C. bought a new stake in shares of Figma during the 3rd quarter worth about $842,687,000. JPMorgan Chase & Co. boosted its stake in shares of Figma by 119.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after acquiring an additional 3,615,198 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of Figma by 93.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after acquiring an additional 2,789,986 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.