Short Interest in Figma, Inc. (NYSE:FIG) Grows By 47.5%

Figma, Inc. (NYSE:FIG) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 28,584,415 shares, an increase of 47.5% from the January 29th total of 19,384,096 shares. Approximately 6.5% of the shares of the company are short sold. Based on an average trading volume of 16,884,043 shares, the short-interest ratio is presently 1.7 days. Based on an average trading volume of 16,884,043 shares, the short-interest ratio is presently 1.7 days. Approximately 6.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FIG shares. Barclays upgraded Figma to a “neutral” rating in a research note on Thursday, January 8th. Morgan Stanley set a $44.00 price objective on Figma in a research report on Thursday, February 19th. Wells Fargo & Company lowered their price objective on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Figma in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada reduced their price target on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.25.

Figma Price Performance

Shares of NYSE:FIG traded up $0.41 on Tuesday, reaching $29.70. 4,821,032 shares of the company traded hands, compared to its average volume of 15,010,415. The company’s 50 day moving average is $29.90 and its 200-day moving average is $43.93. The stock has a market capitalization of $13.10 billion and a PE ratio of -9.52. Figma has a fifty-two week low of $19.85 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.28. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The business had revenue of $303.78 million during the quarter. The business’s revenue was up 40.1% on a year-over-year basis.

Insiders Place Their Bets

In other Figma news, CTO Kris Rasmussen sold 205,438 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $25.01, for a total transaction of $5,138,004.38. Following the completion of the sale, the chief technology officer owned 10,418,905 shares in the company, valued at $260,576,814.05. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dylan Field sold 250,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $34.66, for a total transaction of $8,665,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 1,971,995 shares of company stock valued at $63,547,409 over the last 90 days.

Hedge Funds Weigh In On Figma

Institutional investors and hedge funds have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. purchased a new position in Figma during the third quarter valued at approximately $26,000. NewEdge Advisors LLC acquired a new position in shares of Figma in the third quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Figma during the third quarter worth $27,000. Sunbelt Securities Inc. acquired a new stake in Figma during the third quarter valued at $30,000. Finally, US Bancorp DE purchased a new position in Figma in the third quarter valued at about $31,000.

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.