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

Figma, Inc. (NYSE:FIG) rose 6% during mid-day trading on Monday . The company traded as high as $22.23 and last traded at $22.3780. 3,768,707 shares traded 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FIG. Stifel Nicolaus set a $25.00 price target on shares of Figma in a research report on Friday, May 15th. Morgan Stanley decreased their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Wells Fargo & Company lowered their target price on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. JPMorgan Chase & Co. reduced their price target on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Finally, Citigroup initiated 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. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.67.

Figma Trading Up 10.9%

The company has a 50-day moving average price of $20.79 and a two-hundred day moving average price of $24.46. The stock has a market capitalization of $10.44 billion and a P/E ratio of -6.81.

Figma (NYSE:FIG) last announced its earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 company had revenue of $333.44 million for the quarter. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. Research analysts forecast that Figma, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Praveer Melwani sold 30,460 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.48, for a total transaction of $623,820.80. Following the transaction, the chief financial officer 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 document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tyler Herb sold 1,850 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.40, for a total value of $48,840.00. Following the completion of the sale, the chief accounting officer owned 263,435 shares of the company’s stock, valued at approximately $6,954,684. This represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 733,309 shares of company stock worth $17,824,756 over the last ninety days. 45.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Figma

Hedge funds have recently added to or reduced their stakes in the company. Gladstone Capital Management LLP raised its position in shares of Figma by 2.9% during the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock worth $638,000 after purchasing an additional 481 shares during the period. NewEdge Advisors LLC bought a new stake in Figma during the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new position in Figma during the third quarter worth $27,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Figma by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock valued at $568,000 after buying an additional 559 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Figma in the third quarter valued at $30,000.

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.