Brendan Mulligan Sells 18,213 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 18,213 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $25.00, for a total value of $455,325.00. Following the sale, the general counsel directly owned 951,571 shares of the company’s stock, valued at $23,789,275. This represents a 1.88% decrease in their position. The sale was disclosed in a legal filing 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 Tuesday, May 19th, Brendan Mulligan sold 18,741 shares of Figma stock. The stock was sold at an average price of $25.04, for a total transaction of $469,274.64.

Figma Price Performance

NYSE:FIG opened at $24.36 on Friday. The company has a market cap of $10.86 billion and a P/E ratio of -7.10. The firm’s fifty day moving average price is $21.46 and its two-hundred day moving average price is $23.02. Figma, Inc. has a one year low of $16.60 and a one year high of $142.92.

Figma (NYSE:FIG) last posted its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (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 net margin of 123.83% and a negative return on equity of 98.51%. The business’s revenue was up 46.1% on a year-over-year basis. As a group, equities research analysts expect that Figma, Inc. will post -0.79 earnings per share for the current year.

Institutional Trading of Figma

A number of institutional investors have recently bought and sold shares of FIG. Parallel Advisors LLC increased its holdings in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after purchasing an additional 1,167 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Figma in the third quarter valued at approximately $26,000. DV Equities LLC bought a new stake in shares of Figma in the fourth quarter valued at approximately $26,000. Concord Wealth Partners grew its position in Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after buying an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Figma by 1,568.2% during the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after buying an additional 690 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FIG shares. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. JPMorgan Chase & Co. dropped their price target on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. BTIG Research began coverage on Figma in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Finally, Royal Bank Of Canada reduced their price target on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.56.

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.