Figma (NYSE:FIG) General Counsel Brendan Mulligan Sells 211,599 Shares of Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 211,599 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $29.79, for a total transaction of $6,303,534.21. Following the transaction, the general counsel directly owned 727,952 shares of the company’s stock, valued at $21,685,690.08. This represents a 22.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Wednesday, July 29th, Brendan Mulligan sold 18,213 shares of Figma stock. The stock was sold at an average price of $25.00, for a total transaction of $455,325.00.

Figma Stock Performance

Shares of NYSE:FIG opened at $27.14 on Wednesday. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $71.48. The company has a market capitalization of $12.35 billion and a P/E ratio of -7.46. The company has a 50-day simple moving average of $23.81 and a 200 day simple moving average of $22.86.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $370.08 million for the quarter. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was up 48.2% on a year-over-year basis. As a group, equities analysts forecast that Figma, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FIG has been the topic of a number of recent research reports. Weiss Ratings upgraded Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. lowered their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Stifel Nicolaus set a $25.00 target price on shares of Figma in a research report on Friday, May 15th. Morgan Stanley set a $33.00 price objective on Figma in a research note on Thursday, August 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.56.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Greylock XIV GP LLC bought a new stake in shares of Figma during the second quarter worth about $1,056,824,403. a16z Capital Management L.L.C. bought a new position in Figma in the 3rd quarter valued at approximately $842,687,000. Viking Global Investors LP acquired a new stake in Figma during the 4th quarter worth approximately $214,967,000. Durable Capital Partners LP bought a new stake in Figma during the 3rd quarter worth approximately $278,510,000. Finally, Thrive Capital Management LLC acquired a new position in Figma in the 3rd quarter valued at approximately $228,034,000.

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.