Brokerages Set Figma, Inc. (NYSE:FIG) Target Price at $43.25

Figma, Inc. (NYSE:FIG) has received a consensus rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $43.25.

A number of equities research analysts have recently weighed in on FIG shares. Barclays upgraded Figma to a “neutral” rating in a research note on Thursday, January 8th. Wells Fargo & Company dropped their target price on Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Figma in a research report on Thursday, February 19th. The Goldman Sachs Group set a $35.00 target price on Figma in a research report on Thursday, February 19th. Finally, Morgan Stanley set a $44.00 price target on shares of Figma in a report on Thursday, February 19th.

Insider Buying and Selling

In other Figma news, CRO Shaunt Voskanian sold 8,554 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $30.00, for a total value of $256,620.00. Following the sale, the executive directly owned 1,580,181 shares of the company’s stock, valued at approximately $47,405,430. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brendan Mulligan sold 4,817 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $26.30, for a total value of $126,687.10. Following the completion of the sale, the general counsel owned 825,644 shares in the company, valued at approximately $21,714,437.20. This represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,378,811 shares of company stock valued at $40,904,464 in the last 90 days. 45.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Figma

Several hedge funds have recently bought and sold shares of FIG. SC US Ttgp LTD. purchased a new stake in Figma in the 3rd quarter worth approximately $1,310,305,000. ICONIQ Capital LLC purchased a new stake in Figma in the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. purchased a new stake in Figma in the 3rd quarter worth approximately $842,687,000. Viking Global Investors LP purchased a new stake in shares of Figma during the 4th quarter worth about $214,967,000. Finally, Durable Capital Partners LP purchased a new stake in shares of Figma during the 3rd quarter worth about $278,510,000.

Figma Trading Down 5.0%

NYSE FIG opened at $18.12 on Tuesday. The firm’s fifty day simple moving average is $24.37 and its two-hundred day simple moving average is $36.11. Figma has a 12-month low of $17.73 and a 12-month high of $142.92. The firm has a market capitalization of $7.99 billion and a P/E ratio of -5.81.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share 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 business had revenue of $303.78 million for the quarter. The business’s revenue for the quarter was up 40.1% compared to the same quarter last year.

About Figma

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.