Key Points
- Figma CFO Praveer Melwani sold 83,974 shares on June 3 at an average price of $22.77, generating about $1.91 million in proceeds.
- After the sale, Melwani still held 1,749,024 shares, and the transaction reduced his ownership by 4.58%. The sale was made under a pre-arranged Rule 10b5-1 plan.
- Figma shares recently traded near $21.73, well below the stock’s 200-day average of $27.55, while analysts currently rate the stock Hold on average with a consensus target price of $38.63.
Figma, Inc. (NYSE:FIG - Get Free Report) CFO Praveer Melwani sold 83,974 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98. Following the transaction, the chief financial officer owned 1,749,024 shares in the company, valued at approximately $39,825,276.48. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Figma Price Performance
Shares of Figma stock opened at $21.73 on Friday. The stock has a market cap of $9.68 billion and a P/E ratio of -6.33. The stock's 50 day simple moving average is $20.69 and its 200-day simple moving average is $27.55. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92.
Figma (NYSE:FIG - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business's quarterly revenue was up 46.1% on a year-over-year basis. As a group, research analysts expect that Figma, Inc. will post -0.78 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Gladstone Capital Management LLP lifted its stake in Figma by 2.9% during the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company's stock worth $638,000 after purchasing an additional 481 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Figma during the third quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new position in Figma during the third quarter worth $27,000. Charles Schwab Investment Management Inc. lifted its stake in Figma by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company's stock worth $568,000 after purchasing an additional 559 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Figma during the third quarter worth $30,000.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on FIG shares. Oppenheimer started coverage on Figma in a report on Wednesday, March 25th. They set a "market perform" rating on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Figma in a report on Tuesday, May 19th. JPMorgan Chase & Co. decreased their price objective on Figma from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, May 15th. Royal Bank Of Canada lowered their price objective on Figma from $31.00 to $28.00 and set a "sector perform" rating for the company in a research report on Friday, May 15th. Finally, BTIG Research began coverage on Figma in a research report on Monday, April 13th. They issued a "neutral" rating for the company. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $38.63.
Get Our Latest Analysis on Figma
Figma Company Profile
(
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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