Tyler Herb Sells 1,850 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 1,850 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.40, for a total value of $48,840.00. Following the transaction, the chief accounting officer directly owned 263,435 shares of the company’s stock, valued at $6,954,684. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tyler Herb also recently made the following trade(s):

• On Monday, May 18th, Tyler Herb sold 669 shares of Figma stock. The stock was sold at an average price of $23.79, for a total value of $15,915.51.

Figma Stock Performance

Figma stock opened at $22.56 on Friday. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92. The stock has a market capitalization of $10.05 billion and a P/E ratio of -6.58. The stock has a fifty day moving average of $20.67 and a 200-day moving average of $27.59.

Figma (NYSE:FIG) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.Figma’s quarterly revenue was up 46.1% on a year-over-year basis. On average, research analysts forecast that Figma, Inc. will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On Figma

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after purchasing an additional 1,167 shares in the last quarter. J. Derek Lewis & Associates Inc. boosted its position in shares of Figma by 58.6% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company’s stock valued at $429,000 after purchasing an additional 7,500 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Figma by 428.1% during the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company’s stock valued at $88,377,000 after purchasing an additional 3,388,902 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Figma by 287.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock valued at $47,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Figma by 37.8% during the 1st quarter. Royal Bank of Canada now owns 94,704 shares of the company’s stock valued at $2,002,000 after purchasing an additional 25,957 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FIG shares. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Stifel Nicolaus set a $25.00 price objective on Figma in a research report on Friday, May 15th. Morgan Stanley reduced their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Oppenheimer started coverage on Figma in a research report on Wednesday, March 25th. They set a “market perform” rating on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $30.00 price objective (down from $35.00) on shares of Figma in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average 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.