Figma (NYSE:FIG) CEO Dylan Field Sells 174,430 Shares

Figma, Inc. (NYSE:FIG) CEO Dylan Field sold 174,430 shares of Figma stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.02, for a total transaction of $4,364,238.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Stock Down 10.6%

Shares of FIG stock traded down $2.88 during trading hours on Tuesday, hitting $24.24. 20,234,350 shares of the company’s stock traded hands, compared to its average volume of 16,593,592. The stock’s fifty day simple moving average is $20.66 and its two-hundred day simple moving average is $27.97. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92. The stock has a market cap of $10.80 billion and a price-to-earnings ratio of -7.07.

Figma (NYSE:FIG) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million during the quarter. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. On average, equities analysts forecast that Figma, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Figma

A number of large investors have recently added to or reduced their stakes in FIG. SC US Ttgp LTD. bought a new stake in shares of Figma during the 3rd quarter valued at $1,310,305,000. ICONIQ Capital LLC bought a new stake in shares of Figma during the 3rd quarter valued at $1,108,879,000. a16z Capital Management L.L.C. bought a new stake in shares of Figma during the 3rd quarter valued at $842,687,000. Viking Global Investors LP bought a new stake in shares of Figma during the 4th quarter valued at $214,967,000. Finally, Durable Capital Partners LP bought a new stake in shares of Figma during the 3rd quarter valued at $278,510,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FIG. Royal Bank Of Canada decreased their price objective on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. JPMorgan Chase & Co. decreased their price objective on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a report on Friday, May 15th. Finally, Oppenheimer assumed coverage on shares of Figma in a research report on Wednesday, March 25th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.63.

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.