Key Points
- Brendan Mulligan, Figma's General Counsel, sold 4,817 shares on March 16 at an average price of $26.30 for about $126,687, part of multiple insider sales in Jan–Mar that reduced his stake by 0.58% to 825,644 shares.
- FIG traded down ~1.5% to $24.89 and, while Figma beat quarterly EPS estimates with $0.08 and delivered 40% year-over-year revenue growth, the company still shows negative profitability metrics (negative ROE and net margin).
- Analyst coverage is mixed with an average rating of "Hold" and a $43.25 consensus target, even as major institutions like a16z, ICONIQ, JPMorgan and Baillie Gifford have recently built or increased large positions.
Figma, Inc. (NYSE:FIG - Get Free Report) General Counsel Brendan Mulligan sold 4,817 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $26.30, for a total value of $126,687.10. Following the completion of the sale, the general counsel directly owned 825,644 shares in the company, valued at approximately $21,714,437.20. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Brendan Mulligan also recently made the following trade(s):
- On Tuesday, March 3rd, Brendan Mulligan sold 4,817 shares of Figma stock. The stock was sold at an average price of $28.30, for a total value of $136,321.10.
- On Thursday, February 19th, Brendan Mulligan sold 5,227 shares of Figma stock. The stock was sold at an average price of $26.00, for a total value of $135,902.00.
- On Tuesday, February 10th, Brendan Mulligan sold 5,227 shares of Figma stock. The shares were sold at an average price of $25.00, for a total value of $130,675.00.
- On Monday, February 2nd, Brendan Mulligan sold 7,671 shares of Figma stock. The stock was sold at an average price of $24.86, for a total transaction of $190,701.06.
- On Thursday, January 15th, Brendan Mulligan sold 5,666 shares of Figma stock. The shares were sold at an average price of $32.02, for a total transaction of $181,425.32.
- On Monday, January 5th, Brendan Mulligan sold 5,666 shares of Figma stock. The stock was sold at an average price of $37.25, for a total transaction of $211,058.50.
- On Friday, January 2nd, Brendan Mulligan sold 6,793 shares of Figma stock. The shares were sold at an average price of $37.21, for a total transaction of $252,767.53.
Figma Trading Down 1.5%
FIG stock traded down $0.37 during trading on Thursday, reaching $24.89. 928,002 shares of the stock were exchanged, compared to its average volume of 13,982,933. The stock has a 50 day simple moving average of $27.58 and a 200-day simple moving average of $40.40. The company has a market capitalization of $10.98 billion and a P/E ratio of -8.02. Figma, Inc. has a twelve month low of $19.85 and a twelve month high of $142.92.
Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.28. The company had revenue of $303.78 million during the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The company's quarterly revenue was up 40.1% on a year-over-year basis.
Analyst Ratings Changes
A number of equities analysts have recently commented on FIG shares. Barclays raised shares of Figma to a "neutral" rating in a report on Thursday, January 8th. Piper Sandler restated an "overweight" rating and set a $35.00 price target on shares of Figma in a research note on Thursday, February 19th. Morgan Stanley set a $44.00 price objective on Figma in a report on Thursday, February 19th. Stifel Nicolaus dropped their target price on Figma from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 19th. Finally, Wells Fargo & Company cut their target price on Figma from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $43.25.
Check Out Our Latest Report on Figma
Institutional Trading of Figma
Hedge funds have recently modified their holdings of the company. SC US Ttgp LTD. acquired a new stake in shares of Figma during the third quarter worth approximately $1,310,305,000. ICONIQ Capital LLC bought a new stake in Figma during the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. acquired a new stake in Figma during the 3rd quarter valued at $842,687,000. JPMorgan Chase & Co. increased its holdings in Figma by 119.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company's stock valued at $248,284,000 after purchasing an additional 3,615,198 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in Figma by 93.8% in the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company's stock valued at $215,386,000 after purchasing an additional 2,789,986 shares during the last quarter.
About Figma
(
Get Free Report)
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.
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