Figma (NYSE:FIG) Stock Price Down 4.1% After Analyst Downgrade

Key Points

• Figma's stock price fell 4.1% to $52.33 following a downgrade from Royal Bank of Canada, which reduced its price target from $75.00 to $65.00.
• Insider trading activity saw CRO Shaunt Voskanian selling 90,000 shares of stock, indicating a 5.08% decrease in their ownership.
• Figma reported quarterly earnings that missed estimates, with an EPS of ($0.07) compared to a consensus expectation of $0.08.

Figma, Inc. (NYSE:FIG - Get Free Report)'s share price traded down 4.1% on Friday after Royal Bank Of Canada lowered their price target on the stock from $75.00 to $65.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Figma traded as low as $50.49 and last traded at $52.33. 13,286,538 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 12,938,600 shares. The stock had previously closed at $54.56.

Several other research firms also recently issued reports on FIG. Wall Street Zen upgraded shares of Figma to a "hold" rating in a research note on Saturday, August 9th. Wolfe Research assumed coverage on shares of Figma in a research report on Monday, August 25th. They set a "peer perform" rating for the company. Wells Fargo & Company decreased their target price on shares of Figma from $82.00 to $70.00 and set an "equal weight" rating for the company in a report on Thursday. Zacks Research upgraded shares of Figma to a "hold" rating in a research note on Thursday, August 21st. Finally, Piper Sandler began coverage on shares of Figma in a research report on Thursday. They issued an "overweight" rating and a $85.00 price target on the stock. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Figma currently has a consensus rating of "Hold" and an average price target of $67.43.

Insiders Place Their Bets

In other news, CRO Shaunt Voskanian sold 90,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $31.52, for a total transaction of $2,836,800.00. Following the sale, the executive directly owned 1,681,300 shares of the company's stock, valued at approximately $52,994,576. This represents a 5.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $31.52, for a total value of $3,325,706.72. Following the completion of the sale, the insider directly owned 834,800 shares in the company, valued at $26,312,896. This trade represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 312,500 shares of company stock worth $10,312,500 and have sold 19,617,451 shares worth $618,294,215. Insiders own 45.20% of the company's stock.

Figma Price Performance

The stock has a market cap of $25.45 billion and a P/E ratio of 70.55.

Figma (NYSE:FIG - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.15). The firm had revenue of $249.64 million during the quarter, compared to analysts' expectations of $248.97 million. Figma has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Figma Company Profile

Figma is where teams come together to turn ideas into the world's best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They're looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.