Insider Selling: Figma (NYSE:FIG) CEO Sells 174,430 Shares of Stock

Figma, Inc. (NYSE:FIG) CEO Dylan Field sold 174,430 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.02, for a total transaction of $4,364,238.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Stock Performance

Shares of FIG stock traded down $2.88 during mid-day trading on Tuesday, reaching $24.24. 20,234,350 shares of the company’s stock traded hands, compared to its average volume of 16,593,592. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $142.92. The firm has a 50 day moving average price of $20.66 and a two-hundred day moving average price of $27.97. The firm has a market capitalization of $10.80 billion and a PE ratio of -7.07.

Figma (NYSE:FIG) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million during the quarter. Figma’s revenue for the quarter was up 46.1% on a year-over-year basis. As a group, equities analysts expect that Figma, Inc. will post -0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Morgan Stanley dropped their target price on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. The Goldman Sachs Group set a $35.00 target price on shares of Figma in a report on Thursday, February 19th. Royal Bank Of Canada dropped their target price on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. Finally, Wall Street Zen raised shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.63.

Institutional Trading of Figma

Several hedge funds have recently bought and sold shares of the stock. Truist Financial Corp purchased a new stake in shares of Figma during the 3rd quarter valued at about $314,000. Federated Hermes Inc. purchased a new stake in shares of Figma during the 3rd quarter valued at about $3,631,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Figma during the 3rd quarter valued at about $553,000. Jones Financial Companies Lllp purchased a new stake in shares of Figma during the 3rd quarter valued at about $107,000. Finally, Rit Capital Partners PLC purchased a new stake in shares of Figma during the 3rd quarter valued at about $2,592,000.

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.