Figma, Inc. (NYSE:FIG) Given Consensus Recommendation of “Hold” by Brokerages

Figma, Inc. (NYSE:FIG) has received an average recommendation of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $62.8571.

Several analysts have recently weighed in on FIG shares. Morgan Stanley decreased their target price on shares of Figma from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 4th. Bank of America cut their price target on shares of Figma from $85.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. William Blair reaffirmed an “outperform” rating on shares of Figma in a report on Thursday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their target price on Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 6th.

Figma Trading Up 1.5%

Shares of NYSE FIG opened at $36.24 on Wednesday. The firm’s 50-day moving average is $48.82. Figma has a 52 week low of $32.83 and a 52 week high of $142.92.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($1.56) by $1.66. The business had revenue of $274.17 million for the quarter. During the same period in the previous year, the company earned $0.04 earnings per share. The business’s revenue was up 38.0% compared to the same quarter last year.

Insider Activity

In related news, CFO Praveer Melwani sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the chief financial officer owned 1,612,918 shares in the company, valued at $72,581,310. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dylan Field sold 250,000 shares of Figma stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $34.76, for a total value of $8,690,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 4,355,511 shares of company stock worth $168,567,324.

Hedge Funds Weigh In On Figma

Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in Figma in the third quarter valued at $26,000. NewEdge Advisors LLC acquired a new position in shares of Figma during the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Figma in the 3rd quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new stake in Figma in the 3rd quarter valued at about $30,000. Finally, US Bancorp DE bought a new position in Figma during the third quarter worth about $31,000.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.