Figma (NYSE:FIG) Shares Gap Up – Here’s What Happened

Figma, Inc. (NYSE:FIG)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $17.98, but opened at $18.95. Figma shares last traded at $19.0050, with a volume of 5,266,113 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on FIG. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price target (down from $35.00) on shares of Figma in a report on Friday, May 15th. Morgan Stanley dropped their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 15th. JPMorgan Chase & Co. dropped their target price on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. The Goldman Sachs Group set a $35.00 target price on shares of Figma in a report on Thursday, February 19th. Finally, BTIG Research began coverage on shares of Figma in a report on Monday, April 13th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Figma has an average rating of “Hold” and a consensus price target of $38.33.

Figma Trading Up 6.8%

The company has a market cap of $8.56 billion and a P/E ratio of -5.56. The stock’s 50 day moving average is $20.47 and its 200-day moving average is $26.69.

Figma (NYSE:FIG) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business had revenue of $333.44 million during the quarter. The business’s quarterly revenue was up 46.1% on a year-over-year basis. As a group, sell-side analysts forecast that Figma, Inc. will post -0.78 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Brendan Mulligan sold 18,741 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total value of $469,274.64. Following the completion of the transaction, the general counsel owned 987,986 shares of the company’s stock, valued at approximately $24,739,169.44. This represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of Figma stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.02, for a total value of $4,364,238.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 694,220 shares of company stock worth $17,023,005 in the last three months.

Institutional Investors Weigh In On Figma

Several institutional investors have recently modified their holdings of FIG. Jones Financial Companies Lllp bought a new position in Figma during the third quarter valued at $107,000. Vanguard Group Inc. bought a new stake in Figma in the third quarter worth about $2,282,000. Greenland Capital Management LP bought a new stake in Figma in the third quarter worth about $288,000. US Bancorp DE bought a new stake in Figma in the third quarter worth about $31,000. Finally, Lansing Street Advisors bought a new stake in Figma in the third quarter worth about $623,000.

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.