Figma (NYSE:FIG) CAO Sells $60,000.00 in Stock

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the chief accounting officer directly owned 252,640 shares in the company, valued at $7,579,200. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 shares were sold at an average price of $26.00, for a total transaction of $39,936.00.

Figma Stock Performance

FIG opened at $25.71 on Thursday. The company has a fifty day moving average of $23.95 and a two-hundred day moving average of $22.89. The stock has a market capitalization of $11.70 billion and a price-to-earnings ratio of -7.06. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $71.48.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on FIG shares. Citigroup upped their price objective on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. 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 research report on Friday, May 15th. Wells Fargo & Company lowered their price objective on 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 reiterated a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $33.00 target price on Figma in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Figma presently has an average rating of “Hold” and an average target price of $32.56.

Institutional Trading of Figma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Greylock XIV GP LLC acquired a new position in shares of Figma during the 2nd quarter valued at about $1,056,824,403. SC US Ttgp LTD. increased its position in Figma by 5.8% during the first quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after purchasing an additional 1,466,851 shares during the last quarter. a16z Capital Management L.L.C. acquired a new stake in Figma during the third quarter worth about $842,687,000. JPMorgan Chase & Co. raised its stake in Figma by 119.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after purchasing an additional 3,615,198 shares during the period. Finally, Viking Global Investors LP purchased a new position in Figma during the fourth quarter worth about $214,967,000.

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.