Figma, Inc. (NYSE:FIG) Given Average Rating of “Hold” by Brokerages

Shares of Figma, Inc. (NYSE:FIG) have received an average rating of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $47.75.

FIG has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Figma in a research report on Monday, January 12th. They set a “neutral” rating and a $40.00 price objective on the stock. Royal Bank Of Canada dropped their price target 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. Piper Sandler dropped their target price on shares of Figma from $70.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Stifel Nicolaus initiated coverage on shares of Figma in a research note on Wednesday, January 7th. They set a “hold” rating and a $40.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th.

Insider Activity

In other news, CTO Kris Rasmussen sold 205,438 shares of the business’s 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 sale, the chief technology officer owned 10,418,905 shares of the company’s stock, valued at approximately $260,576,814.05. The trade was a 1.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Shaunt Voskanian sold 3,828 shares of Figma stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $24.86, for a total value of $95,164.08. Following the completion of the transaction, the executive owned 1,588,735 shares in the company, valued at $39,495,952.10. The trade was a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,781,925 shares of company stock valued at $59,260,303 over the last three months.

Institutional Trading of Figma

Hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Figma in the 3rd quarter valued at $26,000. NewEdge Advisors LLC bought a new stake in Figma in the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in Figma in the 3rd quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new position in Figma in the 3rd quarter valued at $30,000. Finally, US Bancorp DE bought a new position in shares of Figma during the third quarter worth approximately $31,000.

Figma Stock Up 2.1%

NYSE FIG opened at $22.49 on Monday. Figma has a 52 week low of $19.85 and a 52 week high of $142.92. The firm has a market cap of $9.35 billion and a PE ratio of -8.39. The business’s fifty day simple moving average is $32.30 and its 200-day simple moving average is $48.29.

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.