Figma (NYSE:FIG) Shares Up 7.2% – Here’s What Happened

Figma, Inc. (NYSE:FIG)’s share price was up 7.2% during trading on Thursday . The company traded as high as $20.99 and last traded at $20.8920. 6,314,884 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 16,821,279 shares. The stock had previously closed at $19.49.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus set a $25.00 target price on Figma in a research report on Friday, May 15th. Piper Sandler restated an “overweight” rating and issued a $30.00 price target on shares of Figma in a research report on Thursday, June 25th. JPMorgan Chase & Co. dropped their price objective on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Wells Fargo & Company cut their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.00.

Figma Price Performance

The firm has a market cap of $9.52 billion and a PE ratio of -6.23. The company has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $25.10.

Figma (NYSE:FIG) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm had revenue of $333.44 million for the quarter. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. As a group, equities research analysts predict that Figma, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling

In other Figma news, CFO Praveer Melwani sold 83,974 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98. Following the transaction, the chief financial officer owned 1,749,024 shares of the company’s stock, valued at $39,825,276.48. This represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the sale, the executive directly owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. This represents a 4.68% 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. Insiders have sold a total of 694,220 shares of company stock worth $17,023,005 over the last ninety days. Corporate insiders own 45.20% of the company’s stock.

Institutional Investors Weigh In On Figma

Several large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after acquiring an additional 1,167 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Figma during the third quarter valued at approximately $26,000. DV Equities LLC purchased a new stake in shares of Figma in the fourth quarter valued at approximately $26,000. Concord Wealth Partners boosted its holdings in shares of 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 purchasing an additional 680 shares during the period. Finally, 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 worth $27,000 after purchasing an additional 690 shares in the last quarter.

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.