Wall Street Zen Upgrades Figma (NYSE:FIG) to “Hold”

Figma (NYSE:FIG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

FIG has been the topic of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Piper Sandler cut their price target on Figma from $70.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Royal Bank Of Canada lowered their price objective 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, Barclays raised Figma to a “neutral” rating in a research report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.75.

Figma Stock Performance

Figma stock opened at $22.15 on Friday. The stock has a market cap of $9.21 billion and a PE ratio of -8.26. Figma has a 12 month low of $19.85 and a 12 month high of $142.92. The firm’s fifty day moving average is $33.48.

Insiders Place Their Bets

In other news, CTO Kris Rasmussen sold 181,345 shares of Figma 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 in the company, valued at $398,524,638. The trade was a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dylan Field sold 3,029,063 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $37.30, for a total transaction of $112,984,049.90. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,657,094 shares of company stock worth $169,493,034 over the last quarter.

Institutional Trading of Figma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Figma in the 3rd quarter valued at $26,000. NewEdge Advisors LLC bought a new position in Figma during the third quarter worth about $26,000. Concord Wealth Partners grew its stake in Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after acquiring an additional 680 shares during the period. Harbour Investments Inc. grew its stake in Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Figma in the third quarter worth about $27,000.

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.