Figma (NYSE:FIG) CTO Kris Rasmussen Sells 205,438 Shares

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 205,438 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $25.01, for a total transaction of $5,138,004.38. Following the completion of the sale, the chief technology officer owned 10,418,905 shares in the company, valued at $260,576,814.05. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kris Rasmussen also recently made the following trade(s):

• On Monday, February 2nd, Kris Rasmussen sold 74,305 shares of Figma stock. The stock was sold at an average price of $24.86, for a total value of $1,847,222.30.
• On Monday, January 5th, Kris Rasmussen sold 181,345 shares of Figma stock. The shares were sold at an average price of $37.25, for a total value of $6,755,101.25.
• On Friday, January 2nd, Kris Rasmussen sold 14,252 shares of Figma stock. The stock was sold at an average price of $37.21, for a total value of $530,316.92.
• On Wednesday, December 3rd, Kris Rasmussen sold 177,387 shares of Figma stock. The shares were sold at an average price of $36.71, for a total value of $6,511,876.77.
• On Monday, December 1st, Kris Rasmussen sold 18,211 shares of Figma stock. The shares were sold at an average price of $35.45, for a total value of $645,579.95.

Figma Trading Down 2.3%

Figma stock opened at $22.05 on Friday. The stock’s 50-day moving average is $32.61. Figma, Inc. has a 52 week low of $19.85 and a 52 week high of $142.92. The stock has a market cap of $9.17 billion and a PE ratio of -8.23.

Institutional Trading of Figma

Institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC acquired a new position in Figma in the third quarter valued at $3,412,000. VERITY Wealth Advisors purchased a new position in shares of Figma in the 3rd quarter worth about $519,000. Tripletail Wealth Management LLC acquired a new position in shares of Figma in the 3rd quarter valued at about $53,000. Renaissance Capital LLC purchased a new stake in shares of Figma during the 3rd quarter worth about $2,439,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in Figma during the 3rd quarter worth approximately $39,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FIG shares. The Goldman Sachs Group began coverage on shares of Figma in a research report on Monday, January 12th. They issued a “neutral” rating and a $40.00 price objective for the company. Morgan Stanley cut their price target on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Royal Bank Of Canada decreased their price objective on Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, January 5th. JPMorgan Chase & Co. dropped their target price on Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus price target of $47.75.

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.