Figma (NYSE:FIG) Sees Strong Trading Volume Following Analyst Upgrade

Figma, Inc. (NYSE:FIG) saw an uptick in trading volume on Friday after The Goldman Sachs Group raised their price target on the stock from $49.00 to $54.00. The Goldman Sachs Group currently has a neutral rating on the stock. 9,723,609 shares were traded during trading, a decline of 14% from the previous session’s volume of 11,318,122 shares.The stock last traded at $44.41 and had previously closed at $45.98.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Figma from $75.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, September 4th. Bank of America decreased their price target on shares of Figma from $85.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Zacks Research raised shares of Figma to a “hold” rating in a report on Thursday, August 21st. William Blair restated an “outperform” rating on shares of Figma in a research note on Thursday, September 4th. Finally, Wolfe Research initiated coverage on Figma in a research report on Monday, August 25th. They set a “peer perform” rating on the stock. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.86.

Insider Activity

In other Figma news, CAO Tyler Herb sold 3,133 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.17, for a total transaction of $150,916.61. Following the completion of the transaction, the chief accounting officer owned 226,087 shares in the company, valued at approximately $10,890,610.79. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Shaunt Voskanian sold 26,741 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.17, for a total value of $1,288,113.97. Following the completion of the transaction, the executive directly owned 1,602,866 shares of the company’s stock, valued at approximately $77,210,055.22. The trade was a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 129,230 shares of company stock worth $6,225,009 over the last ninety days. 45.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Figma

Large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new stake in shares of Figma in the 3rd quarter worth approximately $154,242,000. Alphabet Inc. acquired a new stake in Figma in the third quarter worth approximately $11,182,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Figma during the 3rd quarter valued at $11,075,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Figma during the 3rd quarter valued at $8,734,000. Finally, SG Americas Securities LLC bought a new stake in shares of Figma in the 3rd quarter worth $5,815,000.

Figma Stock Down 4.1%

The firm has a 50 day simple moving average of $55.46.

Figma (NYSE:FIG) last released its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. The firm had revenue of $274.17 million for the quarter. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. Figma has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.