Oppenheimer Begins Coverage on Figma (NYSE:FIG)

Research analysts at Oppenheimer began coverage on shares of Figma (NYSE:FIG) in a research note issued on Wednesday, MarketBeat reports. The firm set a “market perform” rating on the stock.

A number of other research analysts have also recently commented on the company. Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Stifel Nicolaus dropped their price target on Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 19th. Barclays upgraded Figma to a “neutral” rating in a report on Thursday, January 8th. Piper Sandler reissued an “overweight” rating and set a $35.00 price objective on shares of Figma in a report on Thursday, February 19th. Finally, The Goldman Sachs Group set a $35.00 target price on Figma in a research report on Thursday, February 19th. Four 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, the stock currently has an average rating of “Hold” and a consensus price target of $43.25.

Figma Price Performance

Shares of Figma stock opened at $22.14 on Wednesday. Figma has a 1 year low of $19.85 and a 1 year high of $142.92. The firm has a market cap of $9.77 billion and a PE ratio of -7.10. The company has a 50 day simple moving average of $26.13 and a two-hundred day simple moving average of $38.88.

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

Insider Activity at Figma

In other news, CEO Dylan Field sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $32.63, for a total transaction of $8,157,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrew Phillips Reed bought 912,749 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $24.30 per share, with a total value of $22,179,800.70. Following the acquisition, the director owned 1,466,852 shares of the company’s stock, valued at $35,644,503.60. This represents a 164.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,616,377 shares of company stock worth $49,751,858 in the last 90 days. Company insiders own 45.20% of the company’s stock.

Institutional Trading of Figma

Several large investors have recently added to or reduced their stakes in FIG. Gladstone Capital Management LLP raised its holdings in Figma by 2.9% in the 4th quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock worth $638,000 after purchasing an additional 481 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Figma during the 3rd quarter valued at about $26,000. NewEdge Advisors LLC purchased a new position in shares of Figma during the third quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Figma during the third quarter valued at about $27,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Figma by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock worth $568,000 after buying an additional 559 shares in 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.