TLDR
- Figma (FIG) stock fell 8.7% to $17.51 on Thursday, with volume down 73% versus average
- Anthropic launched Claude Design last week, a direct competitor to Figma
- The stock is down nearly 80% from its post-IPO peak in mid-2025
- Q4 revenue increased 40.1% to $303.8 million, beating EPS estimates ($0.08 vs. -$0.20 expected)
- CEO Dylan Field sold 250,000 VIGs at $30.80 in February; Insiders sold a total of ~1.06 million in 90 days
Figma (FIG) stock fell 8.7% on Thursday, closing at $17.51. The stock touched a low of $17.70 during the day and ended the session well below its previous close of $19.17.
Trading volume was around 3.9 million – down 73% from the average session volume of 14.6 million. This type of thin trading can amplify price movements in either direction.
The broader pressure on the stock dates back to last week, when Anthropic released a new AI-powered design tool, a competitor to Figma, AdobeAnd canvas.
Artificial Intelligence competition ends
Claude Design puts Figma in an uncomfortable place. AI design tools are improving rapidly, and the market is taking notice.
However, Cloud Design is seen as being more accessible to amateurs and non-professionals at the moment. Figma’s core user base — professional designers at large companies — shows no signs of abandoning the platform.
Figma has over 13 million users. Nearly 95% of Fortune 500 companies use it. This is not a rule that switches tools overnight.
However, the stock is now down roughly 80% from its post-IPO peak. Figma It went public in mid-2025, marking the biggest single-day gain for a US company of its size in three decades. It’s been downhill ever since.
The market cap now stands at about $7.6 billion, a sharp contrast to the enthusiasm on IPO day.
Profits were not the problem
Figma’s recent quarterly results were actually strong. The company reported EPS of $0.08 for the fourth quarter, beating the consensus estimate of -$0.20 by $0.28.
Revenue was $303.8 million, up 40.1% year over year. For context, Figma achieved $1 billion in annual revenue for the first time in 2025, with international revenue growing by 45%.
The gross profit margin is 82.43%, which is a good number for a software company.
The problem isn’t the top line, it’s the profitability. Figma carries a negative net margin of 121.87% and a negative return on equity of 97.03%. Analysts expect the company to post -$0.69 per share for the full year.
The P/E ratio is -5.51, reflecting that the market has not priced this as a profitable business yet.
Indoor activity raises eyebrows
Insider selling has increased. CEO Dylan Field sold 250,000 FIG at $30.80 in late February, netting $7.7 million.
General Counsel Brendan Mulligan sold 4,817 figs at $26.30 in March.
In total, insiders sold approximately 1.06 million FIG worth about $30.5 million over the last 90 days.
Insiders still own 45.2% of the company.
On the analyst side, the consensus rating is “Hold,” with an average price target of $43.25 — a wide gap from where the stock is trading today.
Of the 15 analysts covering the stock, four rate it a buy, ten as a hold, and one as a sell.
The 50-day moving average is $23.84. 200 days is $34.23. FIG trades much lower than both.
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