Figma, Inc. (FIG) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts have a consensus “Hold” rating on Figma, with nine holds, four buys and one sell among 14 analysts. The average 12-month price target is $31.56, above the reported share price of $24.69.
• Figma’s latest quarterly results exceeded expectations, with adjusted EPS of $0.08 versus the consensus estimate of a $0.22 loss and revenue of $370.08 million, up 48.2% year over year. However, the company remains unprofitable, with negative margins and analysts expecting a full-year loss.
• Insiders sold 1.34 million shares worth approximately $34.8 million during the last quarter under pre-arranged trading plans, while several institutional investors increased their positions or initiated new stakes.

Shares of Figma, Inc. (NYSE:FIG - Get Free Report) have earned a consensus rating of "Hold" from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $31.56.

A number of research analysts recently issued reports on the stock. KeyCorp began coverage on shares of Figma in a research report on Monday, September 14th. They set a "sector weight" rating on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Figma in a research note on Thursday, August 6th. Wells Fargo & Company cut their price objective on shares of Figma from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Stifel Nicolaus reduced their target price on Figma from $25.00 to $22.00 and set a "hold" rating for the company in a research note on Wednesday, October 14th. Finally, Bank of America boosted their target price on Figma from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th.

Figma Price Performance

Shares of Figma stock opened at $24.69 on Friday. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of -6.78 and a beta of 1.32. The stock's 50-day moving average is $23.67 and its 200 day moving average is $22.12. Figma has a one year low of $16.60 and a one year high of $55.48.

Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. The firm had revenue of $370.08 million for the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%. Figma's quarterly revenue was up 48.2% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, sell-side analysts expect that Figma will post -0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Shaunt Voskanian sold 30,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total value of $837,300.00. Following the transaction, the executive directly owned 1,698,620 shares in the company, valued at $47,408,484.20. This trade represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 211,599 shares of Figma stock in a transaction on Friday, August 28th. The shares were sold at an average price of $29.79, for a total transaction of $6,303,534.21. Following the completion of the sale, the general counsel directly owned 727,952 shares of the company's stock, valued at approximately $21,685,690.08. The trade was a 22.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,335,565 shares of company stock valued at $34,762,393. 32.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Greylock XIV GP LLC bought a new stake in Figma during the second quarter worth $1,056,824,403. SC US Ttgp LTD. lifted its stake in Figma by 5.8% during the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company's stock valued at $565,034,000 after acquiring an additional 1,466,851 shares in the last quarter. Bank of America Corp DE boosted its holdings in Figma by 428.1% during the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company's stock worth $88,377,000 after acquiring an additional 3,388,902 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Figma during the 1st quarter worth $36,600,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Figma by 613.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,467,887 shares of the company's stock worth $31,031,000 after acquiring an additional 1,262,258 shares in the last quarter.

About Figma

Figma, Inc NYSE: FIG develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.

The company's product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.

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