Insider Selling: Figma (NYSE:FIG) CTO Sells 205,438 Shares of Stock

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 205,438 shares of Figma stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $25.01, for a total transaction of $5,138,004.38. Following the sale, the chief technology officer directly owned 10,418,905 shares in the company, valued at $260,576,814.05. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Kris Rasmussen also recently made the following trade(s):

• On Monday, February 2nd, Kris Rasmussen sold 74,305 shares of Figma stock. The shares were sold at an average price of $24.86, for a total value of $1,847,222.30.
• On Monday, January 5th, Kris Rasmussen sold 181,345 shares of Figma stock. The stock was sold at an average price of $37.25, for a total value of $6,755,101.25.
• On Friday, January 2nd, Kris Rasmussen sold 14,252 shares of Figma stock. The stock was sold at an average price of $37.21, for a total value of $530,316.92.
• On Wednesday, December 3rd, Kris Rasmussen sold 177,387 shares of Figma stock. The shares were sold at an average price of $36.71, for a total value of $6,511,876.77.
• On Monday, December 1st, Kris Rasmussen sold 18,211 shares of Figma stock. The stock was sold at an average price of $35.45, for a total value of $645,579.95.

Figma Stock Performance

Shares of FIG traded down $0.52 during trading on Thursday, reaching $22.05. The company’s stock had a trading volume of 9,593,295 shares, compared to its average volume of 11,234,762. The company has a market cap of $9.17 billion and a P/E ratio of -8.23. The business’s fifty day moving average price is $32.94. Figma, Inc. has a twelve month low of $19.85 and a twelve month high of $142.92.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FIG. Piper Sandler decreased their price objective on shares of Figma from $70.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Stifel Nicolaus began coverage on Figma in a research note on Wednesday, January 7th. They issued a “hold” rating and a $40.00 price target for the company. The Goldman Sachs Group assumed coverage on Figma in a report on Monday, January 12th. They issued a “neutral” rating and a $40.00 price objective for the company. Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Morgan Stanley decreased their target price on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.75.

Hedge Funds Weigh In On Figma

Large investors have recently bought and sold shares of the business. SC US Ttgp LTD. bought a new position in shares of Figma during the third quarter valued at approximately $1,310,305,000. ICONIQ Capital LLC bought a new stake in shares of Figma in the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in Figma during the 3rd quarter valued at approximately $842,687,000. JPMorgan Chase & Co. grew its stake in Figma by 119.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after buying an additional 3,615,198 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in Figma by 93.8% in the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after buying an additional 2,789,986 shares during the period.

About Figma

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.