Figma (NYSE:FIG) General Counsel Sells $2,834,573.88 in Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 109,106 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.98, for a total value of $2,834,573.88. Following the transaction, the general counsel owned 609,411 shares in the company, valued at $15,832,497.78. This represents a 15.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brendan Mulligan also recently made the following trade(s):

• On Friday, August 28th, Brendan Mulligan sold 211,599 shares of Figma stock. The stock was sold at an average price of $29.79, for a total value of $6,303,534.21.
• On Wednesday, July 29th, Brendan Mulligan sold 18,213 shares of Figma stock. The shares were sold at an average price of $25.00, for a total value of $455,325.00.

Figma Trading Down 6.0%

FIG stock traded down $1.44 during midday trading on Tuesday, hitting $22.68. The stock had a trading volume of 19,373,201 shares, compared to its average volume of 18,009,150. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $71.48. The stock has a 50-day simple moving average of $24.33 and a 200 day simple moving average of $22.92. The firm has a market capitalization of $10.32 billion and a price-to-earnings ratio of -6.23.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $370.08 million for the quarter. During the same period last year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. On average, equities analysts forecast that Figma, Inc. will post -0.75 EPS for the current year.

Wall Street Analyst Weigh In

FIG has been the subject of several recent research reports. Bank of America increased their price target on shares of Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Stifel Nicolaus set a $25.00 target price on Figma in a report on Friday, May 15th. Morgan Stanley set a $33.00 target price on Figma in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. decreased their price target on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.56.

Hedge Funds Weigh In On Figma

Several institutional investors have recently added to or reduced their stakes in FIG. Vanguard Group Inc. acquired a new position in Figma in the third quarter valued at about $2,282,000. US Bancorp DE acquired a new stake in shares of Figma during the third quarter worth approximately $31,000. Blair William & Co. IL bought a new position in shares of Figma in the third quarter valued at approximately $460,000. Banque Cantonale Vaudoise acquired a new position in shares of Figma in the 3rd quarter worth approximately $271,000. Finally, Franklin Resources Inc. bought a new stake in Figma during the 3rd quarter worth approximately $9,084,000.

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.