Figma (NYSE:FIG) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Figma (NYSE:FIG) from a sell rating to a hold rating in a research report sent to investors on Sunday.

FIG has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research note on Monday, December 29th. Morgan Stanley cut their price objective on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Wells Fargo & Company raised Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a report on Thursday, January 8th. Royal Bank Of Canada dropped their target price on Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday, January 5th. Finally, Piper Sandler reduced their price target on shares of Figma from $70.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.75.

Figma Trading Down 1.3%

NYSE:FIG opened at $21.91 on Friday. Figma has a twelve month low of $19.85 and a twelve month high of $142.92. The company has a market capitalization of $9.11 billion and a PE ratio of -8.18. The firm has a fifty day moving average of $33.76.

Insider Activity at Figma

In related news, CTO Kris Rasmussen sold 181,345 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $37.25, for a total transaction of $6,755,101.25. Following the completion of the sale, the chief technology officer owned 10,698,648 shares of the company’s stock, valued at $398,524,638. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dylan Field sold 3,029,063 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $37.30, for a total value of $112,984,049.90. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,657,094 shares of company stock valued at $169,493,034.

Institutional Trading of Figma

A number of hedge funds have recently modified their holdings of the stock. SC US Ttgp LTD. acquired a new position in Figma during the third quarter worth $1,310,305,000. ICONIQ Capital LLC acquired a new position in Figma in the third quarter valued at about $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in Figma during the third quarter worth $842,687,000. Durable Capital Partners LP acquired a new stake in shares of Figma during the third quarter worth about $278,510,000. Finally, Thrive Capital Management LLC acquired a new stake in shares of Figma in the third quarter valued at $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.