Figma (NYSE:FIG) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Figma (NYSE:FIG) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “market perform” rating on the stock.

Several other analysts have also issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Royal Bank Of Canada reduced their price target on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus price target of $43.25.

Figma Stock Performance

Shares of Figma stock opened at $21.85 on Wednesday. The stock has a 50 day moving average of $26.55 and a 200 day moving average of $39.13. The firm has a market capitalization of $9.64 billion and a price-to-earnings ratio of -7.00. Figma has a fifty-two week low of $19.85 and a fifty-two week high of $142.92.

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

Insider Activity at Figma

In other news, CAO Tyler Herb sold 1,678 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.47, for a total value of $47,772.66. Following the completion of the transaction, the chief accounting officer owned 188,913 shares of the company’s stock, valued at approximately $5,378,353.11. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Kris Rasmussen sold 179,331 shares of Figma stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $29.80, for a total transaction of $5,344,063.80. Following the completion of the transaction, the chief technology officer owned 10,169,178 shares of the company’s stock, valued at $303,041,504.40. This trade represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,616,377 shares of company stock valued at $49,751,858.

Hedge Funds Weigh In On Figma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SC US Ttgp LTD. acquired a new position in shares of Figma in the third quarter worth $1,310,305,000. ICONIQ Capital LLC acquired a new stake in shares of Figma in the third quarter valued at $1,108,879,000. a16z Capital Management L.L.C. purchased a new position in Figma in the third quarter valued at $842,687,000. JPMorgan Chase & Co. boosted its holdings in Figma by 119.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock valued at $248,284,000 after purchasing an additional 3,615,198 shares during the period. Finally, Baillie Gifford & Co. grew its stake in Figma by 93.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after purchasing an additional 2,789,986 shares in the last quarter.

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.