Figma (NYSE:FIG) Shares Gap Down – What’s Next?

Figma, Inc. (NYSE:FIG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $23.27, but opened at $22.43. Figma shares last traded at $22.2930, with a volume of 5,794,781 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FIG shares. Stifel Nicolaus set a $25.00 target price on Figma in a research report on Friday, May 15th. Royal Bank Of Canada decreased their target price on Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, May 15th. JPMorgan Chase & Co. decreased their target price on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Tuesday. Finally, Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.63.

Figma Stock Performance

The stock has a market cap of $9.60 billion and a P/E ratio of -6.28. The business’s 50-day moving average price is $21.04 and its 200-day moving average price is $29.05.

Figma (NYSE:FIG) last announced its earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The company had revenue of $333.44 million for the quarter. The firm’s quarterly revenue was up 46.1% on a year-over-year basis. As a group, equities research analysts expect that Figma, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Figma

In other Figma news, CRO Shaunt Voskanian sold 8,554 shares of Figma stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $30.00, for a total transaction of $256,620.00. Following the transaction, the executive owned 1,580,181 shares of the company’s stock, valued at $47,405,430. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brendan Mulligan sold 18,741 shares of Figma 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 transaction, the general counsel directly owned 987,986 shares in the company, valued at $24,739,169.44. This represents a 1.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,085,434 shares of company stock valued at $31,174,548. Company insiders own 45.20% of the company’s stock.

Hedge Funds Weigh In On Figma

Large investors have recently added to or reduced their stakes in the company. Alphabet Inc. purchased a new position in Figma during the third quarter valued at approximately $11,182,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Figma by 69.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company’s stock valued at $10,653,000 after purchasing an additional 116,681 shares in the last quarter. Rit Capital Partners PLC purchased a new position in Figma during the third quarter valued at approximately $2,592,000. Freestone Capital Holdings LLC purchased a new position in Figma during the fourth quarter valued at approximately $10,297,000. Finally, Baillie Gifford & Co. raised its position in shares of Figma by 93.8% during the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after buying an additional 2,789,986 shares during 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.