Insider Selling: Figma (NYSE:FIG) General Counsel Sells $331,209.35 in Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 9,343 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $35.45, for a total transaction of $331,209.35. Following the sale, the general counsel directly owned 890,296 shares in the company, valued at approximately $31,560,993.20. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 3rd, Brendan Mulligan sold 4,392 shares of Figma stock. The shares were sold at an average price of $36.68, for a total transaction of $161,098.56.
• On Monday, November 17th, Brendan Mulligan sold 4,299 shares of Figma stock. The shares were sold at an average price of $37.29, for a total transaction of $160,309.71.
• On Wednesday, November 12th, Brendan Mulligan sold 10,000 shares of Figma stock. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00.
• On Monday, November 10th, Brendan Mulligan sold 80,934 shares of Figma stock. The shares were sold at an average price of $43.47, for a total transaction of $3,518,200.98.
• On Monday, November 3rd, Brendan Mulligan sold 9,526 shares of Figma stock. The stock was sold at an average price of $48.17, for a total value of $458,867.42.

Figma Stock Down 1.9%

Figma stock opened at $37.96 on Friday. Figma, Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $142.92. The firm has a 50-day moving average price of $47.86.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on FIG shares. Wolfe Research assumed coverage on shares of Figma in a research report on Monday, August 25th. They issued a “peer perform” rating for the company. William Blair reaffirmed an “outperform” rating on shares of Figma in a report on Thursday, September 4th. JPMorgan Chase & Co. lowered their price target on Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. The Goldman Sachs Group boosted their price target on Figma from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Finally, Morgan Stanley decreased their price objective on Figma from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, September 4th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.86.

Institutional Investors Weigh In On Figma

A number of hedge funds have recently added to or reduced their stakes in the company. SC US Ttgp LTD. acquired a new position in Figma during the 3rd quarter worth approximately $1,310,305,000. ICONIQ Capital LLC acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $1,108,879,000. a16z Capital Management L.L.C. acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $842,687,000. Durable Capital Partners LP purchased a new stake in shares of Figma in the third quarter valued at approximately $278,510,000. Finally, Thrive Capital Management LLC acquired a new position in Figma during the third quarter worth $228,034,000.

About Figma

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.