Figma (NYSE:FIG) Shares Down 4.1% on 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) shares fell 4.1% during trading 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 changed hands during trading, an increase of 3% from the average session volume of 12,938,600 shares. The stock had previously closed at $54.56.

Other equities analysts have also recently issued research reports about the company. Bank of America lowered their target price on Figma from $85.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. The Goldman Sachs Group initiated coverage on Figma in a research note on Monday, August 25th. They issued a "neutral" rating and a $48.00 price target for the company. Wells Fargo & Company lowered their price target on Figma from $82.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday, September 4th. Zacks Research raised Figma to a "hold" rating in a research note on Thursday, August 21st. Finally, Piper Sandler started coverage on Figma in a research report on Thursday, September 4th. They set an "overweight" rating and a $85.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $67.43.

Insiders Place Their Bets

In other Figma news, major shareholder Ventures Vi (Jersey) Lp Index sold 3,187,765 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 $100,478,352.80. Following the completion of the transaction, the insider directly owned 55,810,810 shares in the company, valued at $1,759,156,731.20. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Greylock Xiv Gp Llc sold 3,074,755 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $31.51, for a total value of $96,885,530.05. Following the transaction, the insider owned 2,921,029 shares of the company's stock, valued at $92,041,623.79. This represents a 51.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 312,500 shares of company stock valued at $10,312,500 and sold 19,617,451 shares valued at $618,294,215.

Figma Stock Up 0.9%

The firm has a market capitalization of $21.72 billion and a P/E ratio of 71.57.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.15). The company 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.