Insider Selling: Figma (NYSE:FIG) Director Sells 12,475 Shares of Company Stock

Figma, Inc. (NYSE:FIG) Director Daniel Rimer sold 12,475 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $18.97, for a total value of $236,650.75. Following the completion of the transaction, the director owned 751,075 shares of the company’s stock, valued at $14,247,892.75. The trade was a 1.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Figma Stock Up 2.6%

Shares of NYSE:FIG traded up $0.49 during midday trading on Friday, reaching $19.41. The company had a trading volume of 6,256,903 shares, compared to its average volume of 16,619,047. The business’s 50 day moving average price is $21.95 and its 200 day moving average price is $22.77. The stock has a market cap of $8.89 billion, a PE ratio of -18.14 and a beta of 1.17. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $41.24.

Figma (NYSE:FIG) last released its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.32. Figma had a negative return on equity of 32.80% and a negative net margin of 40.21%. The business had revenue of $391.42 million for the quarter. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue was up 42.8% on a year-over-year basis. On average, research analysts expect that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FIG has been the topic of a number of analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, November 5th. Royal Bank Of Canada decreased their target price on shares of Figma from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Thursday, November 5th. Citigroup lowered their target price on shares of Figma from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 6th. KeyCorp started coverage on shares of Figma in a research report on Monday, September 14th. They set a “sector weight” rating on the stock. Finally, Wells Fargo & Company cut their price target on shares of Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.80.

Hedge Funds Weigh In On Figma

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in 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 buying an additional 1,167 shares during the period. Three Bridge Wealth Advisors LLC bought a new position in shares of Figma during the 3rd quarter worth approximately $42,000. Sunbelt Securities Inc. increased its holdings in shares of Figma by 287.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock worth $47,000 after acquiring an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC acquired a new position in shares of Figma during the 1st quarter worth approximately $74,000. Finally, IFP Advisors Inc increased its holdings in shares of Figma by 176.1% during the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock worth $78,000 after acquiring an additional 2,760 shares during the last quarter.

Figma Company Profile

Figma, Inc. develops browser-based software for designing and building digital products. Its platform supports collaborative interface design, interactive prototyping and workflows that help teams plan, create and refine websites, apps and other digital experiences. Figma’s products include Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and access implementation details. Figma Slides provides tools for creating and presenting slide decks.