Rothschild & Co Redburn initiated coverage on shares of Figma (NYSE:FIG – Get Free Report) in a research report issued on Monday, Briefing.com reports. The brokerage set a “neutral” rating and a $23.00 price target on the stock. Rothschild & Co Redburn‘s price objective indicates a potential upside of 6.19% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a report on Thursday, August 6th. Piper Sandler reissued an “overweight” rating on shares of Figma in a research note on Monday, October 26th. Wells Fargo & Company reduced their price objective on Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Bank of America lifted their target price on Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings raised Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.50.
View Our Latest Analysis on FIG
Figma Price Performance
NYSE FIG opened at $21.66 on Monday. Figma has a 12 month low of $16.60 and a 12 month high of $50.30. The firm has a market capitalization of $9.86 billion, a PE ratio of -5.95 and a beta of 1.16. The company’s 50 day simple moving average is $23.36 and its 200 day simple moving average is $23.23.
Figma (NYSE:FIG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%. The company had revenue of $370.08 million for the quarter. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 48.2% on a year-over-year basis. Sell-side analysts anticipate that Figma will post -0.75 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CAO Tyler Herb sold 1,418 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $21.62, for a total value of $30,657.16. Following the completion of the transaction, the chief accounting officer owned 246,130 shares of the company’s stock, valued at approximately $5,321,330.60. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.39, for a total transaction of $316,740.25. Following the completion of the transaction, the insider directly owned 786,700 shares of the company’s stock, valued at $19,974,313. This represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 673,227 shares of company stock worth $18,134,548 in the last quarter. Corporate insiders own 32.26% of the company’s stock.
Institutional Trading of Figma
A number of hedge funds have recently modified their holdings of the business. Amova Asset Management Americas Inc. lifted its position in shares of Figma by 641.4% in the first quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company’s stock worth $31,031,000 after purchasing an additional 1,269,900 shares in the last quarter. Greylock XIV GP LLC acquired a new stake in shares of Figma during the second quarter worth approximately $1,056,824,403. Rokos Capital Management LLP purchased a new position in Figma during the first quarter valued at approximately $4,414,000. Citizens Financial Group Inc. RI purchased a new position in Figma during the first quarter valued at approximately $3,429,000. Finally, Entropy Technologies LP purchased a new position in Figma during the first quarter valued at approximately $2,263,000.
Figma Company Profile
Figma, Inc NYSE: FIG develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.
The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.
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