Figma (NYSE:FIG) Shares Down 10.5% – What’s Next?

Figma, Inc. (NYSE:FIG) shares traded down 10.5% on Thursday . The company traded as low as $26.86 and last traded at $26.89. 4,728,946 shares were traded during mid-day trading, a decline of 40% from the average session volume of 7,883,130 shares. The stock had previously closed at $30.06.

Wall Street Analyst Weigh In

FIG has been the topic of a number of research analyst reports. Barclays raised shares of Figma to a “neutral” rating in a report on Thursday, January 8th. Royal Bank Of Canada reduced their target price on Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 5th. Morgan Stanley dropped their price target on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. The Goldman Sachs Group started coverage on Figma in a report on Monday, January 12th. They issued a “neutral” rating and a $40.00 price objective for the company. Finally, Piper Sandler decreased their price objective on Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Four investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $52.13.

Figma Trading Down 10.9%

The business has a fifty day simple moving average of $35.40. The stock has a market capitalization of $11.14 billion and a price-to-earnings ratio of -9.99.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The company had revenue of $274.17 million during the quarter. During the same quarter in the prior year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was up 38.0% on a year-over-year basis.

Insider Transactions at Figma

In related news, CRO Shaunt Voskanian sold 8,449 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $37.24, for a total transaction of $314,640.76. Following the completion of the transaction, the executive owned 1,592,563 shares in the company, valued at $59,307,046.12. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brendan Mulligan sold 5,666 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $32.02, for a total value of $181,425.32. Following the completion of the sale, the general counsel directly owned 863,387 shares of the company’s stock, valued at $27,645,651.74. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 5,509,988 shares of company stock worth $209,103,972. Corporate insiders own 45.20% of the company’s stock.

Hedge Funds Weigh In On Figma

Several hedge funds and other institutional investors have recently modified their holdings of FIG. Whittier Trust Co. of Nevada Inc. bought a new stake in Figma during the 3rd quarter valued at approximately $26,000. NewEdge Advisors LLC bought a new stake in shares of Figma during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Figma in the third quarter worth $27,000. Sunbelt Securities Inc. purchased a new stake in Figma in the third quarter worth $30,000. Finally, US Bancorp DE bought a new position in Figma in the third quarter worth $31,000.

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.