FIG Figma, Inc.

bearish · high conviction SHIFT 0/2 shifts correct ↓ $25.50 +2.04 (+8.7%)
Mkt Cap $12B 52wk $16.60 - $142.92 12h ago
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We disagree with Wall Street. Analyst consensus: bullish. Our position: bearish. See factor model below for why.
Insider selling: $8,988,594 sold by 4 insiders (30d)
Factor divergence: DIVERGENCE: estimate_revisions, insider_activity, analyst_revisions, narrative_gap bullish vs price_
Est. revisions: +48.1% (5 up, 1 down in 30d)
Factor Model (net +2.6)

Factor Model

net +2.6 5.2 / 10
Est. Revisions
+1.0
Insider Activity
+0.5
Momentum
-1.0
Analyst Rev.
+0.9
Narrative Gap
+0.5

Figma IPO stumbles amid revenue slowdown

Watch: Monitor Figma's upcoming comments on margin improvement and growth sustainability for signs of recovery or deeper weakness.

Figma's IPO surged on day one but slumped following a revenue slowdown and intensifying competition, echoing the volatile tech IPO environment typified by Cerebras's wild price swings. Despite revenue growth decelerating to 46.1% YoY with a -41.2% operating margin, Figma maintains a strong gross margin near 79.4%. Insider selling intensified with $9M sold recently, reflecting bearish insider sentiment amid 30.7% short interest and strong institutional fund convergence supporting the stock.

The revenue deceleration and competitive pressures risk undermining Figma's high valuation despite solid gross margins and institutional backing, suggesting caution for near-term performance.

Evidence

11h ago [DD] - Figma Ligma FIG reddit-wsb
13h ago Wall Street Wants You to Chase the SpaceX, Anthropic, and OpenAI IPO Hype. History Tells Us That’s a Dangerous Game. yahoo-finance
Updated Thursday Short Sellers Are Hammering These 10 Stocks — One Is 86% Short benzinga
Updated Thursday JPMorgan's AI Call Shifts ETF Focus Beyond Nvidia And Microsoft To Software Underdogs benzinga
11d ago Figma Deep Dive: Why $Fig is winning in the AI era (46% Revenue Growth, 139% NDR, big squeeze approaching) reddit-raceto10m
11d ago Short interest at 30.7% of float, up 16%
14d ago Figma (FIG) Climbs 13% Amid Revenue Beat yahoo-finance
16d ago Morgan Stanley main FIG: Equal-Weight → Equal-Weight
7 older signals
16d ago RBC Capital main FIG: Sector Perform → Sector Perform
16d ago JP Morgan main FIG: Neutral → Neutral
16d ago First "day trade" since Covid - why not....thanks FIG $170,256.48 in 24 hours on shares - not options
16d ago Piper Sandler reit FIG: Overweight → Overweight
16d ago Stock Market Today: Dow Jones, S&P 500 Futures Drop As Trump Concludes China Visit—Figma, Dlocal, Winnebago Industries In Focus
17d ago Jim Cramer Calls Figma an “Eclectic Design Distributor That’s Made Life Difficult for Adobe”
28d ago Why Figma Stock Fell 16% in April
Fundamentals & Data ▾
Figma, Inc. Technology · Software - Application
Mkt Cap
$12B
52w Range
$16.60 - $142.92
Short Interest
58.0M 30.72%
Days to Cover
3.8 +48%
Technicals mixed
vs 20d MA
+19.5%
from 52w Hi
0.0%
Vol (20d)
87%
1w return
+18.1%
1m return
+51.2%
Vol ratio
0.8x
Insiders
selling 0B / 17S
Analysts
bullish 1 up / 0 down
EPS Estimate
$0.04 +48.1% 30d 5up / 1dn
Est. Dispersion
100% 11 analysts
Analyst Target
$37 $25 - $60
Options P/C
0.35 4C / 1P unusual
Insider Cluster
strong sell 0B / 4S
Fund Convergence
strong Elliott, Citadel, D.E. Shaw, Two Sigma, Renaissance
Financials
Revenue
$333M +46% YoY
FCF
$89M
Gross Margin
79%
Op Margin
-41%
Momentum: decelerating
Top Holders
Elliott $215M
Citadel $184M
D.E. Shaw $155M
Two Sigma $75M
Renaissance $13M
Recent Filings & Data
insider trade 4
net selling · $8,988,594 sold
4 insiders · 4 transactions (30d)
Recent transactions
MULLIGAN BRENDAN · sell · $469,286
HERB TYLER · sell · $15,916
RIMER DANIEL H. · sell · $303,891
RASMUSSEN KRISTOPHER · sell · $8,199,501
Track Record (0/2 correct) ▾

Direction History

0/2 correct at 5 days
2026-05-15 bullish -0.9% ✗
2026-04-28 bearish +13.0% ✗
Full track record across all stocks →
15 signals · latest 11h ago

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