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

Shares of Figma, Inc. (NYSE:FIG) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $52.1250.

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Figma in a research report on Monday, January 12th. They set a “neutral” rating and a $40.00 price target on the stock. Stifel Nicolaus started coverage on Figma in a research note on Wednesday, January 7th. They set a “hold” rating and a $40.00 target price for the company. Wells Fargo & Company upgraded shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research report on Thursday, January 8th. Piper Sandler cut their price target on shares of Figma from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their price objective on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th.

Insiders Place Their Bets

In other news, CAO Tyler Herb sold 2,840 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $37.15, for a total value of $105,506.00. Following the completion of the sale, the chief accounting officer directly owned 198,158 shares in the company, valued at approximately $7,361,569.70. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Shaunt Voskanian sold 8,449 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $37.24, for a total transaction of $314,640.76. Following the transaction, the executive directly owned 1,592,563 shares of the company’s stock, valued at approximately $59,307,046.12. This represents a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,509,988 shares of company stock worth $209,103,972 in the last quarter. Corporate insiders own 45.20% of the company’s stock.

Institutional Trading of Figma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIG. SC US Ttgp LTD. acquired a new position in shares of Figma during the third quarter worth approximately $1,310,305,000. ICONIQ Capital LLC bought a new position in Figma during the third quarter worth $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in Figma during the 3rd quarter valued at $842,687,000. Durable Capital Partners LP bought a new stake in Figma in the 3rd quarter valued at $278,510,000. Finally, Thrive Capital Management LLC acquired a new stake in Figma in the 3rd quarter worth $228,034,000.

Figma Price Performance

Figma stock opened at $27.18 on Thursday. Figma has a 52-week low of $26.79 and a 52-week high of $142.92. The firm has a market cap of $11.30 billion and a price-to-earnings ratio of -10.14. The firm’s 50-day moving average price is $36.29.

Figma (NYSE:FIG) last released its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The firm had revenue of $274.17 million for the quarter. During the same period in the previous year, the business posted $0.04 EPS. The firm’s quarterly revenue was up 38.0% on a year-over-year basis.

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.