Figma (NYSE:FIG) Trading Up 7.8% – Here’s What Happened

Shares of Figma, Inc. (NYSE:FIG) rose 7.8% on Monday . The company traded as high as $25.35 and last traded at $25.1140. 10,261,726 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 18,293,557 shares. The stock had previously closed at $23.29.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and issued a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. BTIG Research started coverage on Figma in a research report on Monday, April 13th. They set a “neutral” rating for the company. Wells Fargo & Company lowered their target price on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Finally, Citigroup upped their price objective on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $32.22.

Figma Stock Performance

The stock has a 50 day moving average price of $21.70 and a 200 day moving average price of $22.72. The company has a market cap of $11.55 billion and a P/E ratio of -6.99.

Figma (NYSE:FIG) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The firm had revenue of $370.08 million for the quarter. During the same period in the previous year, the firm earned $0.09 earnings per share. Figma’s revenue was up 48.2% on a year-over-year basis. As a group, equities research analysts predict that Figma, Inc. will post -0.79 earnings per share for the current year.

Insider Buying and Selling at Figma

In related news, CRO Shaunt Voskanian sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $27.91, for a total transaction of $837,300.00. Following the completion of the sale, the executive directly owned 1,698,620 shares in the company, valued at approximately $47,408,484.20. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Figma stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total transaction of $455,325.00. Following the completion of the transaction, the general counsel owned 951,571 shares in the company, valued at approximately $23,789,275. This trade represents a 1.88% decrease in their position. 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 quarter, insiders sold 1,675,578 shares of company stock valued at $41,729,080. Corporate insiders own 32.26% of the company’s stock.

Hedge Funds Weigh In On Figma

A number of institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in shares of Figma in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Figma during the third quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Figma in the 3rd quarter valued at approximately $30,000. US Bancorp DE acquired a new position in Figma in the 3rd quarter worth approximately $31,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Figma in the 3rd quarter worth approximately $33,000.

About Figma

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.