Figma (NYSE:FIG) CFO Sells $9,581,767.44 in Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 381,288 shares of Figma stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $25.13, for a total value of $9,581,767.44. Following the completion of the transaction, the chief financial officer owned 1,725,716 shares in the company, valued at $43,367,243.08. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Praveer Melwani also recently made the following trade(s):

• On Monday, July 6th, Praveer Melwani sold 30,460 shares of Figma stock. The stock was sold at an average price of $20.48, for a total value of $623,820.80.
• On Wednesday, June 3rd, Praveer Melwani sold 83,974 shares of Figma stock. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98.

Figma Stock Performance

NYSE FIG traded up $0.60 during trading on Friday, hitting $24.36. The company’s stock had a trading volume of 24,722,495 shares, compared to its average volume of 20,634,288. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92. The firm has a 50 day moving average price of $21.46 and a 200 day moving average price of $23.02.

Figma (NYSE:FIG) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 46.1% on a year-over-year basis. On average, equities analysts expect that Figma, Inc. will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its stake 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 buying an additional 1,167 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Figma in the third quarter valued at about $26,000. DV Equities LLC acquired a new position in Figma during the 4th quarter worth about $26,000. Concord Wealth Partners lifted its position in Figma by 1,446.8% during the 4th 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 holdings in Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after acquiring an additional 690 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada cut their price target on shares of Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price objective on shares of Figma in a research note on Thursday, June 25th. Stifel Nicolaus set a $25.00 target price on Figma in a report on Friday, May 15th. BTIG Research began coverage on Figma in a research report on Monday, April 13th. They set a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. 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. According to data from MarketBeat.com, Figma presently has an average rating of “Hold” and an average target price of $32.56.

Figma Company Profile

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.