Figma (NYSE:FIG) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of Figma (NYSE:FIG) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a market perform rating on the stock.

FIG has been the topic of a number of other reports. Wall Street Zen upgraded Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Stifel Nicolaus lowered 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. Wells Fargo & Company reduced their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. The Goldman Sachs Group set a $35.00 target price on shares of Figma in a research note on Thursday, February 19th. Finally, Barclays upgraded shares of Figma to a “neutral” rating in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.25.

Figma Stock Performance

Shares of FIG stock opened at $20.20 on Wednesday. The company has a market capitalization of $8.91 billion and a price-to-earnings ratio of -6.47. Figma has a 52-week low of $19.82 and a 52-week high of $142.92. The company has a 50-day simple moving average of $25.94 and a two-hundred day simple moving average of $38.66.

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

Insider Activity

In other Figma news, CTO Kris Rasmussen sold 205,438 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $25.01, for a total value of $5,138,004.38. Following the completion of the transaction, the chief technology officer owned 10,418,905 shares in the company, valued at approximately $260,576,814.05. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dylan Field sold 250,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $32.63, for a total value of $8,157,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,616,377 shares of company stock worth $49,751,858 in the last quarter. 45.20% of the stock is owned by company insiders.

Institutional Trading of Figma

A number of hedge funds have recently modified their holdings of FIG. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Figma during the third quarter valued at approximately $26,000. NewEdge Advisors LLC bought a new stake in shares of Figma in the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Figma in the 3rd quarter worth approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Figma in the 3rd quarter worth approximately $30,000. Finally, US Bancorp DE bought a new position in Figma during the 3rd quarter valued at approximately $31,000.

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.