Figma (NYSE:FIG) Stock Price Up 8.4% – Still a Buy?

Figma, Inc. (NYSE:FIG) shares were up 8.4% on Tuesday . The company traded as high as $27.37 and last traded at $26.82. Approximately 13,002,263 shares traded hands during trading, a decline of 10% from the average daily volume of 14,459,364 shares. The stock had previously closed at $24.75.

Analyst Ratings Changes

A number of research firms have commented on FIG. Piper Sandler reiterated an “overweight” rating and issued a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Royal Bank Of Canada dropped their price target on Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price target on Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Morgan Stanley set a $44.00 target price on Figma in a research note on Thursday. Finally, Barclays raised shares of Figma to a “neutral” rating in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.25.

Figma Stock Performance

The firm has a market cap of $12.10 billion and a price-to-earnings ratio of -8.79. The company has a 50 day moving average price of $30.72 and a 200 day moving average price of $45.75.

Figma (NYSE:FIG) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $303.78 million during the quarter. Figma’s revenue for the quarter was up 40.1% on a year-over-year basis.

Insiders Place Their Bets

In other news, CTO Kris Rasmussen sold 205,438 shares of the company’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 value of $5,138,004.38. Following the transaction, the chief technology officer directly owned 10,418,905 shares in the company, valued at approximately $260,576,814.05. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Tyler Herb sold 1,492 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $26.00, for a total transaction of $38,792.00. Following the transaction, the chief accounting officer directly owned 194,434 shares of the company’s stock, valued at $5,055,284. The trade was a 0.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,476,144 shares of company stock worth $48,572,497.

Institutional Investors Weigh In On Figma

A number of institutional investors have recently modified their holdings of FIG. Gladstone Capital Management LLP increased its stake in 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. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Figma in the third quarter valued at approximately $26,000. NewEdge Advisors LLC purchased a new stake in Figma during the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Figma during the 3rd quarter worth approximately $27,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Figma by 3.8% in the 4th 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 during the period.

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.