Key Points
- Figma director Lynn Vojvodich Radakovich sold 20,266 shares for approximately $458,620 at an average price of $22.63. The Rule 10b5-1 transaction reduced her direct holdings by 19.29% to 84,809 shares.
- Figma reported quarterly revenue of $370.08 million, up 48.2% year over year, and EPS of $0.08, exceeding analysts’ consensus estimate of a $0.22 loss.
- Analysts maintain a consensus “Hold” rating, with an average price target of $31.56; the stock recently opened at $21.53 and has traded between $16.60 and $58.58 over the past year.
Figma, Inc. (NYSE:FIG - Get Free Report) Director Lynn Vojvodich Radakovich sold 20,266 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $22.63, for a total value of $458,619.58. Following the sale, the director directly owned 84,809 shares in the company, valued at $1,919,227.67. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Figma Price Performance
FIG opened at $21.53 on Tuesday. The business has a 50 day simple moving average of $23.79 and a 200-day simple moving average of $22.06. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $58.58.
Figma (NYSE:FIG - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.30. The firm had revenue of $370.08 million for the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm's revenue was up 48.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. On average, equities research analysts predict that Figma, Inc. will post -0.75 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently weighed in on FIG. KeyCorp started coverage on Figma in a report on Monday, September 14th. They issued a "sector weight" rating for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of Figma in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Figma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, October 6th. Stifel Nicolaus lowered their target price on shares of Figma from $25.00 to $22.00 and set a "hold" rating for the company in a research note on Wednesday, October 14th. Finally, Morgan Stanley set a $33.00 target price on shares of Figma in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $31.56.
Check Out Our Latest Analysis on Figma
Hedge Funds Weigh In On Figma
A number of hedge funds and other institutional investors have recently bought and sold shares of FIG. IFP Advisors Inc lifted its stake in Figma by 67.0% in the third quarter. IFP Advisors Inc now owns 7,224 shares of the company's stock valued at $152,000 after buying an additional 2,897 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Figma by 391.3% during the third quarter. TD Waterhouse Canada Inc. now owns 15,820 shares of the company's stock valued at $341,000 after acquiring an additional 12,600 shares during the period. Seelaus Asset Management LLC boosted its holdings in shares of Figma by 6.9% during the third quarter. Seelaus Asset Management LLC now owns 12,217 shares of the company's stock valued at $257,000 after acquiring an additional 788 shares during the period. Paragon Capital Management Ltd bought a new position in shares of Figma during the third quarter worth about $210,000. Finally, Zevenbergen Capital Investments LLC bought a new position in shares of Figma during the third quarter worth about $483,000.
Figma Company Profile
(
Get Free Report)
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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