Figma (NYSE:FIG) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Figma (NYSE:FIG) to a hold rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on FIG. Stifel Nicolaus started coverage on shares of Figma in a research note on Wednesday, January 7th. They issued a “hold” rating and a $40.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Royal Bank Of Canada dropped their target price on Figma from $65.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, January 5th. Wells Fargo & Company upgraded shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 price target for the company in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.88.

Figma Stock Performance

Shares of FIG opened at $32.36 on Monday. The company has a market capitalization of $13.46 billion and a price-to-earnings ratio of -12.07. Figma has a twelve month low of $32.07 and a twelve month high of $142.92. The firm has a 50 day moving average of $37.84.

Figma (NYSE:FIG) last released its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. The firm had revenue of $274.17 million during the quarter. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.Figma’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS.

Insiders Place Their Bets

In other news, CAO Tyler Herb sold 2,840 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $37.15, for a total transaction of $105,506.00. Following the completion of the sale, the chief accounting officer directly owned 198,158 shares of the company’s stock, valued at $7,361,569.70. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Kris Rasmussen sold 181,345 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $37.25, for a total transaction of $6,755,101.25. Following the completion of the sale, the chief technology officer owned 10,698,648 shares in the company, valued at $398,524,638. This represents a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,191,822 shares of company stock worth $198,725,671 in the last quarter. Insiders own 45.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Voya Investment Management LLC purchased a new stake in shares of Figma during the third quarter valued at approximately $3,412,000. Renaissance Capital LLC purchased a new position in Figma in the third quarter worth $2,439,000. SG Americas Securities LLC bought a new position in Figma in the 3rd quarter valued at $5,815,000. Elite Wealth Management Inc. purchased a new stake in shares of Figma during the 3rd quarter valued at $1,333,000. Finally, Signaturefd LLC purchased a new position in shares of Figma in the 3rd quarter worth about $1,235,000.

Figma Company Profile

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.