Figma, Inc. (NYSE:FIG) Receives Consensus Recommendation of “Hold” from Brokerages

Figma, Inc. (NYSE:FIG) has been assigned an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.5556.

A number of analysts recently weighed in on FIG shares. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Piper Sandler reiterated an “overweight” rating and set a $30.00 price target on shares of Figma in a research note on Thursday, June 25th. Citigroup increased their price objective on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Stifel Nicolaus set a $25.00 target price on shares of Figma in a report on Friday, May 15th. Finally, Weiss Ratings upgraded Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th.

Figma Price Performance

NYSE FIG opened at $22.21 on Friday. The company has a fifty day moving average of $24.49 and a two-hundred day moving average of $22.86. The company has a market capitalization of $10.11 billion and a PE ratio of -6.10. Figma has a 1 year low of $16.60 and a 1 year high of $71.48.

Figma (NYSE:FIG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million during the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.Figma’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, research analysts expect that Figma will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Praveer Melwani sold 381,288 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $25.13, for a total value of $9,581,767.44. Following the completion of the transaction, the chief financial officer owned 1,725,716 shares of the company’s stock, valued at $43,367,243.08. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 30,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total value of $837,300.00. Following the transaction, the executive directly owned 1,698,620 shares in the company, valued at approximately $47,408,484.20. This represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,332,269 shares of company stock valued at $34,624,827. 32.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in Figma during the third quarter worth approximately $2,282,000. US Bancorp DE purchased a new stake in shares of Figma in the third quarter worth about $31,000. Blair William & Co. IL acquired a new stake in Figma in the third quarter valued at approximately $460,000. Banque Cantonale Vaudoise acquired a new stake in Figma during the 3rd quarter valued at $271,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Figma during the third quarter valued at about $9,084,000.

Figma Company Profile

Figma, Inc develops collaborative software for designing, prototyping and building digital products. Its cloud-based platform enables product designers, developers, marketers and other stakeholders to work together in real time on user interfaces, prototypes and digital experiences.

The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and translate them into code.