Figma (NYSE:FIG) General Counsel Sells $450,039.74 in Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 20,701 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $21.74, for a total value of $450,039.74. Following the transaction, the general counsel owned 579,274 shares of the company’s stock, valued at approximately $12,593,416.76. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Thursday, September 3rd, Brendan Mulligan sold 109,106 shares of Figma stock. The stock was sold at an average price of $25.98, for a total transaction of $2,834,573.88.
• 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 transaction 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 transaction of $455,325.00.

Figma Price Performance

Shares of Figma stock opened at $22.45 on Friday. The company has a market cap of $10.22 billion, a PE ratio of -6.17 and a beta of 1.32. The firm has a fifty day moving average price of $24.22 and a two-hundred day moving average price of $22.03. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $70.40.

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 business had revenue of $370.08 million during the quarter. During the same quarter in the previous year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 48.2% on a year-over-year basis. Analysts expect that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FIG shares. Citigroup lifted their price objective on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Figma in a research report on Thursday, June 25th. Bank of America lifted their price target on shares of Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Morgan Stanley set a $33.00 price target on shares of Figma in a report on Thursday, August 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $30.00 price objective on shares of Figma in a research note on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.56.

Institutional Trading of Figma

Several institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its holdings in shares of Figma by 3,890.0% during 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 during the period. Sunbelt Securities Inc. increased its position 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 purchasing an additional 1,650 shares in the last quarter. Atlantic Private Wealth LLC acquired a new stake in shares of Figma during the 1st quarter worth about $74,000. North Star Investment Management Corp. lifted its holdings in Figma by 138.9% during the 1st quarter. North Star Investment Management Corp. now owns 4,300 shares of the company’s stock valued at $91,000 after purchasing an additional 2,500 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Figma by 176.1% during the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock valued at $78,000 after purchasing an additional 2,760 shares during the last quarter.

About Figma

Figma, Inc is a collaborative software company that provides browser-based tools for designing, prototyping and developing digital products. Its platform enables product designers, developers, researchers, marketers and other stakeholders to work together on user interfaces and digital experiences in real time.

The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for collaborative brainstorming and whiteboarding, and Dev Mode, which helps developers inspect designs and translate them into working products.