Figma (NYSE:FIG) CAO Tyler Herb Sells 1,416 Shares

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 1,416 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $26.29, for a total value of $37,226.64. Following the sale, the chief accounting officer owned 249,386 shares of the company’s stock, valued at approximately $6,556,357.94. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tyler Herb also recently made the following trade(s):

• On Thursday, August 27th, Tyler Herb sold 2,000 shares of Figma stock. The stock was sold at an average price of $30.00, for a total value of $60,000.00.
• On Friday, August 21st, Tyler Herb sold 1,840 shares of Figma stock. The shares were sold at an average price of $27.14, for a total transaction of $49,937.60.
• On Tuesday, August 4th, Tyler Herb sold 709 shares of Figma stock. The shares were sold at an average price of $26.00, for a total transaction of $18,434.00.
• On Monday, August 3rd, Tyler Herb sold 1,536 shares of Figma stock. The stock was sold at an average price of $26.00, for a total value of $39,936.00.

Figma Trading Down 6.0%

Figma stock traded down $1.44 during mid-day trading on Tuesday, hitting $22.68. The stock had a trading volume of 19,373,201 shares, compared to its average volume of 18,009,150. The firm has a market capitalization of $10.32 billion and a P/E ratio of -6.23. The firm’s 50 day moving average is $24.33 and its 200 day moving average is $22.92. Figma, Inc. has a one year low of $16.60 and a one year high of $71.48.

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

Hedge Funds Weigh In On Figma

Several hedge funds have recently made changes to their positions in the company. Gladstone Capital Management LLP increased its holdings in shares of Figma by 2.9% in the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock valued at $638,000 after purchasing an additional 481 shares during the period. NewEdge Advisors LLC purchased a new stake in Figma during the third quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Figma during the 3rd quarter worth about $27,000. Charles Schwab Investment Management Inc. boosted its position in Figma by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock worth $568,000 after purchasing an additional 559 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Figma in the 3rd quarter valued at $30,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Figma in a research note on Thursday, June 25th. Bank of America lifted their target price on Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.56.

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.