Figma (NYSE:FIG) Now Covered by Rothschild & Co Redburn

Equities researchers at Rothschild & Co Redburn began coverage on shares of Figma (NYSE:FIG) in a research note issued to investors on Monday, Briefing.com reports. The firm set a “neutral” rating and a $23.00 price target on the stock. Rothschild & Co Redburn‘s price objective would suggest a potential upside of 6.19% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Weiss Ratings upgraded Figma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Bank of America raised their price objective on shares of Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Stifel Nicolaus reduced 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. Citigroup decreased their target price on shares of Figma from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Figma from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Figma Price Performance

Shares of NYSE FIG opened at $21.66 on Monday. Figma has a one year low of $16.60 and a one year high of $50.30. The business’s 50-day moving average price is $23.36 and its two-hundred day moving average price is $23.23. The company has a market capitalization of $9.86 billion, a P/E ratio of -5.95 and a beta of 1.16.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share 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 during the quarter. During the same period last year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, equities analysts anticipate that Figma will post -0.75 EPS for the current year.

Insider Activity

In other Figma news, Director Lynn Vojvodich Radakovich sold 20,266 shares of Figma stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $22.63, for a total value of $458,619.58. Following the transaction, the director directly owned 84,809 shares of the company’s stock, valued at $1,919,227.67. The trade was a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 20,701 shares of Figma stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $21.74, for a total value of $450,039.74. Following the completion of the transaction, the general counsel directly owned 579,274 shares in the company, valued at approximately $12,593,416.76. This represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 673,227 shares of company stock worth $18,134,548 over the last 90 days. Company insiders own 32.26% of the company’s stock.

Institutional Investors Weigh In On Figma

Several hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after acquiring an additional 1,167 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Figma by 287.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock valued at $47,000 after purchasing an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC acquired a new position in Figma during the 1st quarter valued at $74,000. IFP Advisors Inc boosted its holdings in Figma by 176.1% in the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock valued at $78,000 after purchasing an additional 2,760 shares during the period. Finally, Paragon Capital Management Ltd bought a new stake in Figma in the 3rd quarter valued at $210,000.

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.