Figma (NYSE:FIG) Now Covered by Analysts at BTIG Research

BTIG Research assumed coverage on shares of Figma (NYSE:FIG) in a report released on Monday morning, Marketbeat reports. The brokerage issued a neutral rating on the stock.

Several other research firms also recently issued reports on FIG. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Royal Bank Of Canada reduced their price objective on Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, February 19th. Morgan Stanley set a $44.00 price target on Figma in a research note on Thursday, February 19th. Stifel Nicolaus cut their price target on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. Finally, Oppenheimer assumed coverage on Figma in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Figma has an average rating of “Hold” and an average target price of $43.25.

Figma Stock Performance

NYSE:FIG opened at $19.15 on Monday. The stock’s fifty day moving average price is $24.27 and its two-hundred day moving average price is $35.73. Figma has a 52-week low of $17.73 and a 52-week high of $142.92. The company has a market cap of $8.45 billion and a price-to-earnings ratio of -6.14.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $303.78 million for the quarter. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis.

Insider Activity

In other news, CTO Kris Rasmussen sold 205,438 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $25.01, for a total value of $5,138,004.38. Following the transaction, the chief technology officer owned 10,418,905 shares of the company’s stock, valued at $260,576,814.05. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dylan Field sold 250,000 shares of the stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $32.63, for a total value of $8,157,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,378,811 shares of company stock valued at $40,904,464 in the last 90 days.

Institutional Trading of Figma

Large investors have recently made changes to their positions in the company. Alphabet Inc. bought a new stake in shares of Figma in the 3rd quarter valued at $11,182,000. Rit Capital Partners PLC bought a new stake in shares of Figma in the 3rd quarter valued at $2,592,000. Sands Capital Management LLC bought a new stake in shares of Figma in the 3rd quarter valued at $11,762,000. Baillie Gifford & Co. increased its position in shares of Figma by 93.8% in the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after buying an additional 2,789,986 shares in the last quarter. Finally, NZS Capital LLC bought a new stake in shares of Figma in the 3rd quarter valued at $8,070,000.

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.