Figma (NYSE:FIG) Major Shareholder Ventures Vi (Jersey) Lp Index Sells 12,475 Shares of Company Stock

Figma, Inc. (NYSE:FIG) major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $18.97, for a total transaction of $236,650.75. Following the completion of the transaction, the insider owned 751,075 shares in the company, valued at $14,247,892.75. This trade represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Figma Stock Performance

Shares of NYSE:FIG traded up $0.49 during trading on Friday, reaching $19.41. The stock had a trading volume of 6,257,940 shares, compared to its average volume of 11,581,324. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $41.24. The firm’s fifty day moving average is $21.83 and its 200 day moving average is $22.73. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of -18.14 and a beta of 1.17.

Figma (NYSE:FIG) last announced its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.32. The business had revenue of $391.42 million during the quarter. Figma had a negative net margin of 40.21% and a negative return on equity of 32.80%. Figma’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, research analysts forecast that Figma, Inc. will post -0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FIG. Telsey Advisory Group began coverage on Figma in a research report on Monday, November 2nd. They issued a “hold” rating for the company. Morgan Stanley set a $33.00 price objective on Figma in a research note on Thursday, August 6th. Piper Sandler restated an “overweight” rating on shares of Figma in a research report on Monday, October 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Figma in a research note on Thursday, November 5th. Finally, Rothschild & Co Redburn began coverage on Figma in a research note on Monday, November 2nd. They set a “neutral” rating and a $23.00 target price for the company. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FIG. Entropy Technologies LP grew its holdings in Figma by 77.1% in the third quarter. Entropy Technologies LP now owns 214,807 shares of the company’s stock worth $4,515,000 after purchasing an additional 93,546 shares during the period. Jump Financial LLC raised its holdings in shares of Figma by 109.1% during the third quarter. Jump Financial LLC now owns 2,256,296 shares of the company’s stock valued at $47,427,000 after purchasing an additional 1,177,415 shares during the period. Pathstone Holdings LLC acquired a new position in shares of Figma during the third quarter valued at about $313,000. Headlands Technologies LLC bought a new position in shares of Figma during the 3rd quarter worth about $211,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Figma during the 3rd quarter worth about $446,000.

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.