Figma (NYSE:FIG) Trading Up 7.2% – Time to Buy?

Figma, Inc. (NYSE:FIG) shares rose 7.2% on Thursday . The stock traded as high as $20.99 and last traded at $20.8920. 6,314,884 shares traded hands during trading, a decline of 62% from the average session volume of 16,821,279 shares. The stock had previously closed at $19.49.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FIG shares. BTIG Research started coverage on shares of Figma in a report on Monday, April 13th. They set a “neutral” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Wells Fargo & Company reduced their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Morgan Stanley decreased their price target on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Finally, Citigroup began coverage on shares of Figma in a report on Wednesday, June 17th. They issued a “buy” rating and a $36.00 price target on the stock. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Figma Stock Performance

The firm has a 50 day moving average price of $20.25 and a two-hundred day moving average price of $25.23. The company has a market cap of $9.27 billion and a P/E ratio of -6.07.

Figma (NYSE:FIG) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business’s quarterly revenue was up 46.1% on a year-over-year basis. On average, sell-side analysts predict that Figma, Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at Figma

In related news, General Counsel Brendan Mulligan sold 18,741 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64. Following the sale, the general counsel directly owned 987,986 shares in the company, valued at approximately $24,739,169.44. This represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 83,974 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the completion of the transaction, the chief financial officer directly owned 1,749,024 shares of the company’s stock, valued at approximately $39,825,276.48. This trade represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 694,220 shares of company stock valued at $17,023,005. 45.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Figma

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after acquiring an additional 1,167 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Figma in the third quarter valued at $26,000. DV Equities LLC bought a new stake in shares of Figma during the 4th quarter valued at $26,000. Concord Wealth Partners raised its stake in shares of Figma by 1,446.8% during the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after purchasing an additional 680 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after purchasing an additional 690 shares in the last quarter.

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.