Figma (NYSE:FIG) Reaches New 52-Week Low – Here’s What Happened

Figma, Inc. (NYSE:FIG)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $19.82 and last traded at $20.1950, with a volume of 12957163 shares. The stock had previously closed at $22.15.

Wall Street Analysts Forecast Growth

FIG has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. The Goldman Sachs Group set a $35.00 target price on Figma in a report on Thursday, February 19th. Stifel Nicolaus reduced their price target 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. Barclays upgraded shares of Figma to a “neutral” rating in a research note on Thursday, January 8th. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 price objective on shares of Figma in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.25.

Figma Price Performance

The company has a market cap of $8.91 billion and a P/E ratio of -6.47. The stock has a fifty day moving average price of $25.94 and a two-hundred day moving average price of $38.56.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $303.78 million during the quarter. The company’s quarterly revenue was up 40.1% compared to the same quarter last year.

Insider Buying and Selling

In related news, CAO Tyler Herb sold 1,678 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.47, for a total transaction of $47,772.66. Following the transaction, the chief accounting officer directly owned 188,913 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CTO Kris Rasmussen sold 179,331 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $29.80, for a total transaction of $5,344,063.80. Following the transaction, the chief technology officer owned 10,169,178 shares in the company, valued at approximately $303,041,504.40. This trade represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,616,377 shares of company stock valued at $49,751,858 over the last 90 days. 45.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Figma

A number of hedge funds and other institutional investors have recently modified their holdings of FIG. Gladstone Capital Management LLP increased its position in shares of Figma by 2.9% during the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock valued at $638,000 after acquiring an additional 481 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Figma in the third quarter worth $26,000. NewEdge Advisors LLC purchased a new position in Figma in the third quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new position in Figma in the 3rd quarter valued at $27,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Figma by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock valued at $568,000 after purchasing an additional 559 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.