Brendan Mulligan Sells 109,106 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 109,106 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $25.98, for a total transaction of $2,834,573.88. Following the completion of the sale, the general counsel directly owned 609,411 shares in the company, valued at $15,832,497.78. This represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 Friday, August 28th, Brendan Mulligan sold 211,599 shares of Figma stock. The stock was sold at an average price of $29.79, for a total value of $6,303,534.21.
• On Wednesday, July 29th, Brendan Mulligan sold 18,213 shares of Figma stock. The shares were sold at an average price of $25.00, for a total value of $455,325.00.

Figma Price Performance

Shares of FIG opened at $22.01 on Thursday. The stock has a market capitalization of $10.02 billion and a PE ratio of -6.05. The business’s fifty day moving average price is $24.47 and its 200 day moving average price is $22.89. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $71.48.

Figma (NYSE:FIG) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million during the quarter. During the same quarter in the previous year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. As a group, research analysts anticipate that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Key Stories Impacting Figma

Here are the key news stories impacting Figma this week:

• Positive Sentiment: Brokerages have set an average price target of $32.56, implying potential upside from recent trading levels. However, the consensus rating remains “Hold,” with four Buy ratings, eight Holds and one Sell rating. Brokerages Set Figma Target Price at $32.56
• Neutral Sentiment: Figma presented at the Goldman Sachs Communacopia + Technology Conference, giving investors additional information on its strategy and business outlook, though no specific major catalyst was identified in the provided coverage. Figma Goldman Sachs Conference Transcript
• Negative Sentiment: Adobe is inviting Figma users to test a new artificial-intelligence design tool. The move raises concerns that Adobe could use its broader creative-software ecosystem and AI capabilities to challenge Figma’s core design and collaboration products. Adobe Inviting Figma Users to Test a New AI Design Tool
• Negative Sentiment: Recent commentary highlighted the risk that Adobe’s free AI-enabled design offerings may pull users away from Figma, reinforcing worries about customer retention and competitive pricing pressure. Free Adobe Tool Competition
• Negative Sentiment: Figma’s general counsel sold 109,106 shares worth approximately $2.83 million, while Chief Accounting Officer Tyler Herb sold 1,416 shares worth about $37,227. Both transactions were conducted under pre-arranged Rule 10b5-1 plans, which reduces their significance but may still weigh on sentiment. Figma Insider Stock Sales
• Negative Sentiment: A recent rating downgrade cited a valuation that may assume too much optimism despite Figma’s growth, adding to concerns over its negative net margin and expected full-year loss. Figma Rating Downgrade

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 target price on shares of Figma in a research note on Thursday, June 25th. Morgan Stanley set a $33.00 price target on shares of Figma in a research report on Thursday, August 6th. Citigroup increased their price objective on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.56.

Hedge Funds Weigh In On Figma

Several large investors have recently bought and sold shares of FIG. Parallel Advisors LLC boosted its holdings in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after acquiring an additional 1,167 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Figma in the third quarter worth approximately $26,000. DV Equities LLC bought a new position in Figma during the 4th quarter valued at $26,000. Harbour Investments Inc. increased its position in shares of Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Figma in the 3rd quarter worth $27,000.

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.