Figma (NYSE:FIG) Stock Price Up 7.2% – Time to Buy?

Figma, Inc. (NYSE:FIG) shares traded up 7.2% on Thursday . The stock traded as high as $20.99 and last traded at $20.8920. Approximately 6,314,884 shares traded hands during trading, a decline of 62% from the average daily volume of 16,821,279 shares. The stock had previously closed at $19.49.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BTIG Research began coverage on shares of Figma in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Wells Fargo & Company decreased their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Piper Sandler restated an “overweight” rating and issued a $30.00 target price on shares of Figma in a report on Thursday, June 25th. Citigroup began coverage on shares of Figma in a research report on Wednesday, June 17th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Morgan Stanley cut their price target on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.00.

Figma Trading Up 6.8%

The business has a 50-day moving average of $20.25 and a 200 day moving average of $25.23. The firm has a market capitalization of $9.27 billion and a PE ratio of -6.07.

Figma (NYSE:FIG) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million for the quarter. The firm’s revenue for the quarter was up 46.1% on a year-over-year basis. On average, sell-side analysts expect that Figma, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity at Figma

In related news, CEO Dylan Field sold 174,430 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.02, for a total transaction of $4,364,238.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 83,974 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the completion of the sale, the chief financial officer directly owned 1,749,024 shares of the company’s stock, valued at $39,825,276.48. The trade was a 4.58% 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 sold 694,220 shares of company stock valued at $17,023,005 over the last three months. Insiders own 45.20% of the company’s stock.

Hedge Funds Weigh In On Figma

Several institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in 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 purchased a new position in Figma in the third quarter worth $26,000. DV Equities LLC bought a new position in Figma in the 4th quarter valued at $26,000. Concord Wealth Partners grew its stake in Figma by 1,446.8% in the 4th 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. increased its position in shares of Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the last quarter.

About Figma

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.