Figma (NYSE:FIG) Coverage Initiated at Oppenheimer

Stock analysts at Oppenheimer initiated coverage on shares of Figma (NYSE:FIG) in a research report issued on Wednesday, Marketbeat reports. The brokerage set a “market perform” rating on the stock.

Several other equities research analysts have also commented on the company. Morgan Stanley set a $44.00 price objective on Figma in a research note on Thursday, February 19th. Barclays raised Figma to a “neutral” rating in a research note on Thursday, January 8th. Wells Fargo & Company dropped their price target on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research note on Monday, December 29th. Finally, Stifel Nicolaus decreased their price objective on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Figma currently has a consensus rating of “Hold” and an average target price of $43.25.

Figma Stock Down 5.8%

Shares of NYSE FIG opened at $21.85 on Wednesday. The firm has a market cap of $9.64 billion and a price-to-earnings ratio of -7.00. The company’s 50-day simple moving average is $26.55 and its 200-day simple moving average is $39.13. Figma has a 52-week low of $19.85 and a 52-week high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.28. The firm had revenue of $303.78 million during the quarter. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The business’s revenue was up 40.1% on a year-over-year basis.

Insider Transactions at Figma

In other news, CTO Kris Rasmussen sold 205,438 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $25.01, for a total value of $5,138,004.38. Following the completion of the sale, the chief technology officer directly owned 10,418,905 shares in the company, valued at $260,576,814.05. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew Phillips Reed purchased 912,749 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average cost of $24.30 per share, with a total value of $22,179,800.70. Following the acquisition, the director owned 1,466,852 shares of the company’s stock, valued at approximately $35,644,503.60. The trade was a 164.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,616,377 shares of company stock worth $49,751,858 in the last ninety days.

Institutional Trading of Figma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SC US Ttgp LTD. acquired a new position in shares of Figma during the 3rd quarter valued at about $1,310,305,000. ICONIQ Capital LLC acquired a new stake in Figma during the third quarter worth about $1,108,879,000. a16z Capital Management L.L.C. purchased a new position in Figma during the third quarter worth about $842,687,000. Viking Global Investors LP purchased a new position in Figma during the fourth quarter worth about $214,967,000. Finally, Durable Capital Partners LP acquired a new position in Figma in the 3rd quarter valued at about $278,510,000.

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.