Figma (NYSE:FIG) Sees Strong Trading Volume on Analyst Upgrade

Shares of Figma, Inc. (NYSE:FIG) saw strong trading volume on Friday after The Goldman Sachs Group raised their price target on the stock from $49.00 to $54.00. The Goldman Sachs Group currently has a neutral rating on the stock. 9,723,609 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 11,318,122 shares.The stock last traded at $44.41 and had previously closed at $45.98.

Other analysts also recently issued reports about the company. Wells Fargo & Company decreased their price target on Figma from $70.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday. Morgan Stanley lowered their target price on Figma from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 4th. Wolfe Research began coverage on shares of Figma in a report on Monday, August 25th. They issued a “peer perform” rating on the stock. Weiss Ratings started coverage on shares of Figma in a report on Friday, October 24th. They set a “sell (d)” rating for the company. Finally, Bank of America lowered their price objective on shares of Figma from $85.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Figma has an average rating of “Hold” and an average target price of $62.86.

Insider Activity

In related news, CTO Kris Rasmussen sold 73,738 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $48.17, for a total value of $3,551,959.46. Following the completion of the transaction, the chief technology officer directly owned 11,378,919 shares of the company’s stock, valued at approximately $548,122,528.23. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Shaunt Voskanian sold 26,741 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $48.17, for a total transaction of $1,288,113.97. Following the sale, the executive directly owned 1,602,866 shares in the company, valued at $77,210,055.22. The trade was a 1.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 129,230 shares of company stock valued at $6,225,009. 45.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Figma

Several hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. purchased a new stake in Figma during the 3rd quarter worth about $154,242,000. Alphabet Inc. bought a new stake in shares of Figma during the third quarter valued at about $11,182,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Figma during the third quarter valued at about $11,075,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Figma in the third quarter worth about $8,734,000. Finally, SG Americas Securities LLC bought a new position in shares of Figma in the third quarter valued at approximately $5,815,000.

Figma Stock Performance

The firm’s 50-day moving average is $55.46.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.56) by $1.66. The firm had revenue of $274.17 million during the quarter. Figma’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS. Figma has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Figma Company Profile

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.