Figma (NYSE:FIG) Stock Price Up 10.1% – Still a Buy?

Figma, Inc. (NYSE:FIG) shot up 10.1% during mid-day trading on Thursday . The company traded as high as $29.42 and last traded at $29.7590. Approximately 5,212,629 shares traded hands during trading, a decline of 71% from the average session volume of 17,958,830 shares. The stock had previously closed at $27.03.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FIG shares. Bank of America lifted their price objective on shares of Figma from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Royal Bank Of Canada restated a “sector perform” rating on shares of Figma in a research report on Thursday, August 6th. Piper Sandler restated an “overweight” rating and issued a $30.00 price target on shares of Figma in a research note on Thursday, June 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Figma in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lowered their price target on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.56.

Figma Stock Down 5.7%

The firm has a market cap of $13.14 billion and a price-to-earnings ratio of -7.93. The company’s 50-day moving average price is $23.47 and its 200-day moving average price is $22.80.

Figma (NYSE:FIG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million during the quarter. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. Analysts predict that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Figma

In related news, CRO Shaunt Voskanian sold 87,510 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the sale, the executive directly owned 1,781,380 shares in the company, valued at approximately $40,989,553.80. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,213 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $25.00, for a total value of $455,325.00. Following the completion of the transaction, the general counsel directly owned 951,571 shares of the company’s stock, valued at approximately $23,789,275. This represents a 1.88% 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. In the last ninety days, insiders have sold 1,181,482 shares of company stock worth $29,364,026. 32.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Figma

Hedge funds have recently modified their holdings of the business. Greylock XIV GP LLC purchased a new position in shares of Figma in the second quarter worth about $1,056,824,403. a16z Capital Management L.L.C. purchased a new stake in Figma during the 3rd quarter valued at about $842,687,000. Viking Global Investors LP acquired a new stake in Figma in the 4th quarter valued at about $214,967,000. Durable Capital Partners LP acquired a new stake in Figma in the 3rd quarter valued at about $278,510,000. Finally, Thrive Capital Management LLC purchased a new position in Figma in the 3rd quarter worth approximately $228,034,000.

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.