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

Shares of Figma, Inc. (NYSE:FIG) have been assigned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $32.5556.

A number of equities research analysts have issued reports on FIG shares. Stifel Nicolaus set a $25.00 price target on shares of Figma in a report on Friday, May 15th. Piper Sandler reissued an “overweight” rating and issued a $30.00 price target on shares of Figma in a report on Thursday, June 25th. Bank of America lifted their target price on shares of Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wells Fargo & Company lowered their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Finally, Citigroup increased their price target 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.

Figma Trading Down 2.0%

FIG stock opened at $25.22 on Friday. The firm has a market cap of $11.48 billion and a PE ratio of -6.93. The company has a fifty day simple moving average of $24.11 and a 200 day simple moving average of $22.90. Figma has a 1 year low of $16.60 and a 1 year high of $71.48.

Figma (NYSE:FIG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating 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 for the quarter. During the same period in the prior year, the company posted $0.09 EPS. The business’s revenue was up 48.2% on a year-over-year basis. As a group, analysts forecast that Figma will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.39, for a total value of $316,740.25. Following the sale, the insider owned 786,700 shares of the company’s stock, valued at $19,974,313. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brendan Mulligan sold 211,599 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $29.79, for a total value of $6,303,534.21. Following the completion of the sale, the general counsel owned 727,952 shares in the company, valued at $21,685,690.08. This trade represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,221,747 shares of company stock worth $31,753,027. Insiders own 32.26% of the company’s stock.

Institutional Investors Weigh In On Figma

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in shares of Figma in the 3rd quarter worth about $2,282,000. US Bancorp DE bought a new position in Figma during the 3rd quarter valued at about $31,000. Blair William & Co. IL acquired a new position in Figma in the third quarter valued at about $460,000. Banque Cantonale Vaudoise acquired a new position in Figma in the third quarter valued at about $271,000. Finally, Franklin Resources Inc. bought a new stake in Figma during the third quarter worth about $9,084,000.

Figma Company Profile

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.