Figma (NYSE:FIG) CFO Sells $1,912,087.98 in Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 83,974 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98. Following the transaction, the chief financial officer directly owned 1,749,024 shares of the company’s stock, valued at $39,825,276.48. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Stock Down 3.5%

Shares of NYSE:FIG traded down $0.78 during trading on Friday, hitting $21.73. 16,361,734 shares of the company traded hands, compared to its average volume of 16,553,553. The stock has a market capitalization of $9.68 billion and a price-to-earnings ratio of -6.33. The business’s fifty day moving average is $20.67 and its 200-day moving average is $27.59. 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 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.27. The company had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm’s revenue was up 46.1% compared to the same quarter last year. On average, analysts forecast that Figma, Inc. will post -0.78 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $30.00 price objective (down from $35.00) on shares of Figma in a research report on Friday, May 15th. Wall Street Zen upgraded Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Wells Fargo & Company reduced their price objective on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Stifel Nicolaus set a $25.00 price objective on Figma in a research report on Friday, May 15th. Four equities 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. According to MarketBeat.com, Figma presently has an average rating of “Hold” and a consensus target price of $38.63.

Hedge Funds Weigh In On Figma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alphabet Inc. acquired a new stake in Figma in the third quarter worth approximately $11,182,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Figma by 69.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company’s stock worth $10,653,000 after purchasing an additional 116,681 shares during the period. Freestone Capital Holdings LLC acquired a new stake in Figma in the fourth quarter worth approximately $10,297,000. Baillie Gifford & Co. lifted its position in Figma by 93.8% in the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after purchasing an additional 2,789,986 shares during the period. Finally, Sands Capital Management LLC acquired a new stake in Figma in the third quarter worth approximately $11,762,000.

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.