Figma (NYSE:FIG) Director Daniel Rimer Sells 12,475 Shares

Figma, Inc. (NYSE:FIG) Director Daniel Rimer sold 12,475 shares of Figma stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.39, for a total value of $316,740.25. Following the transaction, the director directly owned 786,700 shares in the company, valued at approximately $19,974,313. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Figma Trading Down 4.9%

Shares of NYSE FIG opened at $23.66 on Thursday. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $91.00. The company has a market capitalization of $10.77 billion and a price-to-earnings ratio of -6.50. The firm has a 50-day moving average of $21.70 and a two-hundred day moving average of $22.65.

Figma (NYSE:FIG) last released its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The business had revenue of $370.08 million for the quarter. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 48.2% compared to the same quarter last year. As a group, research analysts predict that Figma, Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FIG. Citigroup increased their price target on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wells Fargo & Company lowered their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Royal Bank Of Canada restated a “sector perform” rating on shares of Figma in a report on Thursday, August 6th. Finally, Bank of America began coverage on Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 price objective for the company. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Figma presently has a consensus rating of “Hold” and a consensus price target of $32.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in 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 purchasing an additional 1,167 shares in the last quarter. NewEdge Advisors LLC bought a new position in Figma during the third quarter valued at about $26,000. DV Equities LLC bought a new position in Figma during the fourth quarter valued at about $26,000. Concord Wealth Partners lifted its position in shares of Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after buying an additional 680 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after buying an additional 690 shares during the last quarter.

Figma Company Profile

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.