Figma (NYSE:FIG) Upgraded at Wall Street Zen

Figma (NYSE:FIG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

FIG has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Barclays upgraded Figma to a “neutral” rating in a research note on Thursday, January 8th. The Goldman Sachs Group began coverage on Figma in a research note on Monday, January 12th. They issued a “neutral” rating and a $40.00 price target for the company. Stifel Nicolaus started coverage on Figma in a research report on Wednesday, January 7th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Figma presently has an average rating of “Hold” and an average price target of $47.75.

Figma Trading Down 1.3%

FIG opened at $21.91 on Friday. The stock has a market cap of $9.11 billion and a price-to-earnings ratio of -8.18. The stock has a 50-day moving average of $33.76. Figma has a 1 year low of $19.85 and a 1 year high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. The business had revenue of $274.17 million during the quarter. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share.

Insider Buying and Selling at Figma

In other news, General Counsel Brendan Mulligan sold 7,671 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $24.86, for a total transaction of $190,701.06. Following the completion of the sale, the general counsel owned 855,716 shares of the company’s stock, valued at $21,273,099.76. This represents a 0.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Praveer Melwani sold 16,247 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $24.86, for a total transaction of $403,900.42. Following the completion of the transaction, the chief financial officer directly owned 1,550,298 shares in the company, valued at approximately $38,540,408.28. The trade was a 1.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,485,041 shares of company stock worth $205,471,438. 45.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Figma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC bought a new position in Figma in the 3rd quarter worth $3,412,000. VERITY Wealth Advisors bought a new position in shares of Figma in the third quarter worth about $519,000. Tripletail Wealth Management LLC bought a new position in shares of Figma in the third quarter worth about $53,000. Renaissance Capital LLC purchased a new position in shares of Figma during the 3rd quarter valued at about $2,439,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of Figma during the 3rd quarter valued at approximately $39,000.

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.