Figma (NYSE:FIG) Shares Down 5.1% – Here’s What Happened

Figma, Inc. (NYSE:FIG)’s share price was down 5.1% on Friday . The company traded as low as $17.86 and last traded at $18.1120. Approximately 4,473,565 shares traded hands during trading, a decline of 68% from the average daily volume of 13,895,420 shares. The stock had previously closed at $19.08.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FIG shares. Oppenheimer started coverage on shares of Figma in a report on Wednesday, March 25th. They set a “market perform” rating for the company. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Figma in a report on Thursday, February 19th. Wall Street Zen raised shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Stifel Nicolaus lowered their price objective on shares of Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Finally, The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.25.

Figma Trading Down 5.0%

The company’s 50-day simple moving average is $24.37 and its 200-day simple moving average is $36.11. The stock has a market capitalization of $7.99 billion and a price-to-earnings ratio of -5.81.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.28. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The firm had revenue of $303.78 million during the quarter. The business’s quarterly revenue was up 40.1% on a year-over-year basis.

Insider Buying and Selling at Figma

In other news, Director Andrew Phillips Reed acquired 912,749 shares of Figma stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $24.30 per share, with a total value of $22,179,800.70. Following the purchase, the director owned 1,466,852 shares in the company, valued at $35,644,503.60. This trade represents a 164.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dylan Field sold 250,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $32.63, for a total transaction of $8,157,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,378,811 shares of company stock worth $40,904,464. 45.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Figma

Large investors have recently modified their holdings of the company. Alphabet Inc. acquired a new stake in shares of Figma during the third quarter worth $11,182,000. Rit Capital Partners PLC acquired a new stake in shares of Figma during the third quarter worth $2,592,000. Sands Capital Management LLC acquired a new stake in shares of Figma during the third quarter worth $11,762,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Figma during the third quarter worth $11,075,000. Finally, NZS Capital LLC acquired a new stake in shares of Figma during the third quarter worth $8,070,000.

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.