Insider Selling: Figma (NYSE:FIG) CFO Sells 15,781 Shares of Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 15,781 shares of Figma stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $35.45, for a total value of $559,436.45. Following the sale, the chief financial officer directly owned 1,591,139 shares of the company’s stock, valued at $56,405,877.55. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Praveer Melwani also recently made the following trade(s):

• On Wednesday, November 12th, Praveer Melwani sold 10,000 shares of Figma stock. The stock was sold at an average price of $45.00, for a total value of $450,000.00.
• On Monday, November 10th, Praveer Melwani sold 13,000 shares of Figma stock. The stock was sold at an average price of $43.46, for a total value of $564,980.00.
• On Monday, November 10th, Praveer Melwani sold 14,532 shares of Figma stock. The shares were sold at an average price of $43.47, for a total transaction of $631,706.04.
• On Monday, November 3rd, Praveer Melwani sold 16,092 shares of Figma stock. The stock was sold at an average price of $48.17, for a total transaction of $775,151.64.

Figma Trading Up 3.5%

Shares of Figma stock traded up $1.27 during trading hours on Wednesday, hitting $37.45. The company had a trading volume of 4,032,324 shares, compared to its average volume of 10,850,899. The company’s 50-day moving average price is $48.82. Figma, Inc. has a twelve month low of $32.83 and a twelve month high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.56) by $1.66. The company had revenue of $274.17 million during the quarter. During the same period in the previous year, the company earned $0.04 EPS. Figma’s quarterly revenue was up 38.0% compared to the same quarter last year.

Hedge Funds Weigh In On Figma

Large investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Figma during the third quarter worth about $26,000. NewEdge Advisors LLC acquired a new stake in shares of Figma during the 3rd quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Figma during the 3rd quarter valued at approximately $27,000. Sunbelt Securities Inc. acquired a new stake in shares of Figma in the 3rd quarter worth approximately $30,000. Finally, US Bancorp DE acquired a new stake in shares of Figma in the 3rd quarter worth approximately $31,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FIG shares. Wells Fargo & Company cut their target price on shares of Figma from $70.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Wolfe Research assumed coverage on shares of Figma in a research note on Monday, August 25th. They issued a “peer perform” rating on the stock. Bank of America reduced their target price on shares of Figma from $85.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a report on Monday. Finally, Morgan Stanley reduced their price objective on Figma from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, September 4th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Figma presently has an average rating of “Hold” and an average price target of $62.86.

Figma Company Profile

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.