Figma (NYSE:FIG) Trading 5.4% Higher – Here’s Why

Figma, Inc. (NYSE:FIG)’s stock price was up 5.4% during trading on Thursday . The company traded as high as $22.42 and last traded at $22.2380. Approximately 5,097,829 shares changed hands during trading, a decline of 65% from the average daily volume of 14,411,049 shares. The stock had previously closed at $21.09.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FIG. Wells Fargo & Company lowered their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Royal Bank Of Canada decreased their price target on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 19th. Morgan Stanley set a $44.00 price target on shares of Figma in a report on Thursday, February 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Finally, Stifel Nicolaus reduced their price objective on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.25.

Figma Stock Performance

The company has a market capitalization of $9.53 billion and a price-to-earnings ratio of -6.91. The business’s 50-day simple moving average is $26.32 and its 200-day simple moving average is $39.00.

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

Insider Buying and Selling at Figma

In other news, 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew Phillips Reed purchased 912,749 shares of Figma stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $24.30 per share, for a total transaction of $22,179,800.70. Following the completion of the transaction, the director directly owned 1,466,852 shares in the company, valued at $35,644,503.60. The trade was a 164.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 1,616,377 shares of company stock valued at $49,751,858. 45.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Figma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alphabet Inc. bought a new stake in shares of Figma in the 3rd quarter valued at about $11,182,000. Rit Capital Partners PLC bought a new position in Figma during the 3rd quarter worth approximately $2,592,000. Sands Capital Management LLC acquired a new position in Figma during the third quarter valued at approximately $11,762,000. NZS Capital LLC bought a new stake in Figma in the third quarter valued at approximately $8,070,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in Figma in the third quarter valued at approximately $11,075,000.

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.