Figma (NYSE:FIG) Trading Up 7.8% – Still a Buy?

Figma, Inc. (NYSE:FIG) traded up 7.8% during mid-day trading on Friday . The company traded as high as $18.23 and last traded at $18.1470. 9,042,106 shares traded hands during trading, a decline of 46% from the average daily volume of 16,703,637 shares. The stock had previously closed at $16.84.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FIG. Oppenheimer reiterated a “market perform” rating on shares of Figma in a report on Thursday. Morgan Stanley decreased their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Royal Bank Of Canada lowered their price objective on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday. Wells Fargo & Company reiterated an “overweight” rating and issued a $36.00 target price on shares of Figma in a research note on Friday. Finally, BTIG Research assumed coverage on Figma in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.00.

Figma Trading Up 5.8%

The company has a market capitalization of $7.94 billion and a PE ratio of -5.17. The company’s 50 day moving average price is $20.32 and its 200-day moving average price is $25.79.

Figma (NYSE:FIG) last issued its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share 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 firm had revenue of $333.44 million for the quarter. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. As a group, analysts predict that Figma, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Figma

In related news, CTO Kris Rasmussen sold 327,046 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the completion of the sale, the chief technology officer owned 9,771,529 shares of the company’s stock, valued at approximately $244,972,232.03. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed 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, CRO Shaunt Voskanian sold 87,510 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the transaction, the executive owned 1,781,380 shares in the company, valued at $40,989,553.80. The trade was a 4.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 694,220 shares of company stock worth $17,023,005. Company insiders own 45.20% of the company’s stock.

Institutional Trading of Figma

Large investors have recently added to or reduced their stakes in the stock. Gladstone Capital Management LLP lifted its stake in shares of 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 in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Figma during the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Figma during the 3rd quarter valued at about $27,000. Charles Schwab Investment Management Inc. lifted its position in Figma by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock worth $568,000 after acquiring an additional 559 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Figma during the 3rd quarter worth approximately $30,000.

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.