Figma (NYSE:FIG) Now Covered by Telsey Advisory Group

Telsey Advisory Group began coverage on shares of Figma (NYSE:FIG) in a research report issued to clients and investors on Monday, Zacks reports. The firm set a “hold” rating on the stock.

Other analysts have also recently issued reports about the company. Morgan Stanley set a $33.00 price objective on Figma in a research report on Thursday, August 6th. Wells Fargo & Company decreased their target price on Figma from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Weiss Ratings upgraded Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Citigroup lowered their price objective on Figma from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Finally, Rothschild & Co Redburn began coverage on shares of Figma in a research report on Monday. They issued a “neutral” rating and a $23.00 target price for the company. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Figma has an average rating of “Hold” and a consensus target price of $30.50.

Figma Stock Down 5.4%

NYSE FIG opened at $21.00 on Monday. Figma has a twelve month low of $16.60 and a twelve month high of $48.69. The stock has a 50-day moving average of $23.13 and a 200 day moving average of $23.11.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $370.08 million for the quarter. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. Analysts predict that Figma will post -0.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Tyler Herb sold 2,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the chief accounting officer owned 252,640 shares of the company’s stock, valued at approximately $7,579,200. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the company’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 directly owned 786,700 shares in the company, valued at $19,974,313. This represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 393,296 shares of company stock valued at $10,858,069. Corporate insiders own 32.26% of the company’s stock.

Institutional Investors Weigh In On Figma

Large investors have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. acquired a new stake in Figma in the 3rd quarter valued at about $238,000. Pictet Asset Management Holding SA raised its holdings in Figma by 26,445.4% in the third quarter. Pictet Asset Management Holding SA now owns 3,072,370 shares of the company’s stock valued at $64,581,000 after acquiring an additional 3,060,796 shares in the last quarter. Allen Operations LLC lifted its stake in Figma by 240.5% in the third quarter. Allen Operations LLC now owns 79,046 shares of the company’s stock worth $1,662,000 after acquiring an additional 55,832 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Figma by 31.4% in the third quarter. International Assets Investment Management LLC now owns 20,523 shares of the company’s stock worth $443,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in Figma during the 3rd quarter worth approximately $423,000.

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.