Figma (NYSE:FIG) Downgraded by Wall Street Zen to “Sell”

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

FIG has been the subject of a number of other research reports. Stifel Nicolaus began coverage on shares of Figma in a research report on Wednesday, January 7th. They set a “hold” rating and a $40.00 target price for the company. Royal Bank Of Canada reduced their price objective on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. lowered their target price on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Barclays upgraded shares of Figma to a “neutral” rating in a report on Thursday, January 8th. Finally, Piper Sandler decreased their price target on Figma from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.13.

Figma Trading Down 4.2%

Shares of Figma stock opened at $25.92 on Friday. The company has a market capitalization of $10.78 billion and a PE ratio of -9.67. Figma has a twelve month low of $25.91 and a twelve month high of $142.92. The business has a fifty day simple moving average of $35.11.

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

Insider Activity at Figma

In other news, CTO Kris Rasmussen sold 272,789 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $43.47, for a total transaction of $11,858,137.83. Following the transaction, the chief technology officer owned 11,121,558 shares of the company’s stock, valued at $483,454,126.26. This represents a 2.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dylan Field sold 3,029,063 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $37.30, for a total value of $112,984,049.90. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,509,988 shares of company stock valued at $209,103,972 in the last ninety days. Insiders own 45.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC acquired a new stake in Figma in the third quarter valued at approximately $3,412,000. VERITY Wealth Advisors bought a new position in shares of Figma in the 3rd quarter worth $519,000. Tripletail Wealth Management LLC acquired a new stake in Figma in the 3rd quarter valued at $53,000. Renaissance Capital LLC acquired a new stake in Figma in the 3rd quarter valued at $2,439,000. Finally, SOA Wealth Advisors LLC. bought a new stake in Figma during the 3rd quarter valued at $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.