Figma (NYSE:FIG) Shares Down 4.8% – Here’s What Happened

Figma, Inc. (NYSE:FIG) fell 4.8% during trading on Tuesday . The company traded as low as $28.91 and last traded at $29.0160. 4,421,823 shares were traded during trading, a decline of 70% from the average session volume of 14,680,463 shares. The stock had previously closed at $30.48.

Analysts Set New Price Targets

Several brokerages have commented on FIG. Morgan Stanley set a $44.00 price target on shares of Figma in a research report on Thursday, February 19th. Wall Street Zen upgraded Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Wells Fargo & Company dropped their price target on Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Finally, The Goldman Sachs Group set a $35.00 price objective on Figma in a research report on Thursday, February 19th. Four equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.25.

Figma Price Performance

The company’s 50 day moving average price is $28.68 and its 200 day moving average price is $41.93. The firm has a market capitalization of $11.71 billion and a P/E ratio of -8.50.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The firm had revenue of $303.78 million during the quarter. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year.

Insiders Place Their Bets

In other Figma news, CAO Tyler Herb sold 1,678 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.47, for a total transaction of $47,772.66. Following the transaction, the chief accounting officer owned 188,913 shares in the company, valued at approximately $5,378,353.11. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Shaunt Voskanian sold 8,554 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $30.00, for a total value of $256,620.00. Following the completion of the transaction, the executive owned 1,580,181 shares of the company’s stock, valued at $47,405,430. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,967,427 shares of company stock valued at $62,086,778 in the last ninety days. 45.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FIG. Voya Investment Management LLC bought a new position in Figma in the third quarter valued at approximately $3,412,000. VERITY Wealth Advisors bought a new position in Figma in the 3rd quarter valued at about $519,000. Tripletail Wealth Management LLC bought a new stake in shares of Figma during the third quarter worth approximately $53,000. Renaissance Capital LLC bought a new position in shares of Figma during the third quarter worth approximately $2,439,000. Finally, SOA Wealth Advisors LLC. acquired a new position in Figma in the 3rd quarter valued at $39,000.

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.