Figma (NYSE:FIG) Hits New 52-Week Low – Here’s What Happened

Shares of Figma, Inc. (NYSE:FIG) hit a new 52-week low on Friday . The stock traded as low as $16.80 and last traded at $17.3250, with a volume of 23327998 shares traded. The stock had previously closed at $19.17.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 19th. Wells Fargo & Company reduced their price target on shares of Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Barclays raised shares of Figma to a “neutral” rating in a research report on Thursday, January 8th. BTIG Research began coverage on shares of Figma in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.25.

Figma Stock Up 0.9%

The company’s fifty day moving average is $23.64 and its two-hundred day moving average is $33.65. The stock has a market cap of $7.76 billion and a price-to-earnings ratio of -5.60.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share 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 for the quarter. The firm’s revenue for the quarter was up 40.1% compared to the same quarter last year. Sell-side analysts predict that Figma, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Figma

In related news, CFO Praveer Melwani sold 16,247 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $24.86, for a total value of $403,900.42. Following the transaction, the chief financial officer directly owned 1,550,298 shares of the company’s stock, valued at $38,540,408.28. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dylan Field sold 250,000 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $30.80, for a total transaction of $7,700,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,060,645 shares of company stock worth $30,526,164. Insiders own 45.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. grew its position in shares of Figma by 138.9% in the 1st quarter. North Star Investment Management Corp. now owns 4,300 shares of the company’s stock valued at $91,000 after buying an additional 2,500 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Figma in the 1st quarter valued at $1,311,000. RFG Advisory LLC increased its holdings in shares of Figma by 42.5% in the 1st quarter. RFG Advisory LLC now owns 15,100 shares of the company’s stock valued at $319,000 after acquiring an additional 4,500 shares during the period. SG Americas Securities LLC increased its holdings in shares of Figma by 230.3% in the 1st quarter. SG Americas Securities LLC now owns 497,551 shares of the company’s stock valued at $10,518,000 after acquiring an additional 346,928 shares during the period. Finally, J. Derek Lewis & Associates Inc. acquired a new position in shares of Figma in the 4th quarter valued at $478,000.

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.