Figma (NYSE:FIG) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Figma (NYSE:FIG) in a report published on Wednesday morning, MarketBeat reports. The brokerage issued a market perform rating on the stock.

A number of other analysts have also recently weighed in on FIG. Royal Bank Of Canada lowered their price target on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, February 19th. Stifel Nicolaus reduced their price objective on shares of Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 19th. Wells Fargo & Company decreased their target price on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research note on Monday, December 29th. Finally, Barclays raised shares of Figma to a “neutral” rating in a report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.25.

Figma Price Performance

Shares of NYSE FIG opened at $21.07 on Wednesday. Figma has a 1-year low of $19.85 and a 1-year high of $142.92. The business has a fifty day moving average price of $26.32 and a 200 day moving average price of $39.00. The stock has a market capitalization of $9.29 billion and a P/E ratio of -6.75.

Figma (NYSE:FIG) last posted its 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. The company had revenue of $303.78 million for the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The company’s revenue was up 40.1% compared to the same quarter last year.

Insider Buying and Selling at Figma

In other Figma news, CEO Dylan Field sold 250,000 shares of the firm’s 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew Phillips Reed acquired 912,749 shares of the stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $24.30 per share, with a total value of $22,179,800.70. Following the completion of the purchase, the director directly owned 1,466,852 shares of the company’s stock, valued at approximately $35,644,503.60. This trade represents a 164.73% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 1,616,377 shares of company stock worth $49,751,858. 45.20% of the stock is owned by corporate insiders.

Institutional Trading of Figma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. purchased a new stake in Figma during the 4th quarter valued at about $478,000. Hsbc Holdings PLC increased its holdings in shares of Figma by 274.0% in the fourth quarter. Hsbc Holdings PLC now owns 117,542 shares of the company’s stock valued at $4,384,000 after purchasing an additional 86,117 shares during the period. Cosmic Management LLC purchased a new position in shares of Figma in the fourth quarter worth about $151,535,000. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in shares of Figma during the fourth quarter worth about $373,000. Finally, Compound Planning Inc. acquired a new stake in shares of Figma during the fourth quarter worth about $34,057,000.

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.