Key Points
- Figma CTO Kris Rasmussen sold 261,301 shares for approximately $6.55 million at an average price of $25.07 under a pre-arranged Rule 10b5-1 trading plan. He still owns 9.49 million shares, worth about $238 million.
- Figma reported quarterly revenue of $333.44 million, up 46.1% year over year, and earnings of $0.10 per share, beating analysts’ estimate of a $0.17-per-share loss.
- Analysts have a consensus “Hold” rating and an average price target of $32.56, while Figma shares recently opened at $24.36 and remain well below their 52-week high of $142.92.
Figma, Inc. (NYSE:FIG - Get Free Report) General Counsel Brendan Mulligan sold 18,213 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total value of $455,325.00. Following the completion of the transaction, the general counsel directly owned 951,571 shares in the company, valued at approximately $23,789,275. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brendan Mulligan also recently made the following trade(s):
- On Tuesday, May 19th, Brendan Mulligan sold 18,741 shares of Figma stock. The shares were sold at an average price of $25.04, for a total value of $469,274.64.
Figma Stock Performance
NYSE:FIG opened at $24.36 on Friday. The stock has a 50-day simple moving average of $21.46 and a two-hundred day simple moving average of $23.02. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $142.92. The firm has a market capitalization of $10.86 billion and a PE ratio of -7.10.
Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business had revenue of $333.44 million during the quarter. The business's revenue for the quarter was up 46.1% compared to the same quarter last year. Equities analysts forecast that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $30.00 price target on shares of Figma in a report on Thursday, June 25th. Royal Bank Of Canada decreased their price objective on shares of Figma from $28.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Thursday, June 25th. BTIG Research assumed coverage on shares of Figma in a research note on Monday, April 13th. They set a "neutral" rating on the stock. Morgan Stanley dropped their target price on shares of Figma from $44.00 to $38.00 and set an "equal weight" rating for the company in a report on Friday, May 15th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Figma in a research note on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $32.56.
Read Our Latest Stock Analysis on FIG
Institutional Trading of Figma
Several hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in shares of Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company's stock valued at $25,000 after acquiring an additional 1,167 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Figma during the third quarter worth approximately $26,000. DV Equities LLC bought a new stake in Figma during the fourth quarter worth approximately $26,000. Concord Wealth Partners raised its position in Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company's stock valued at $27,000 after purchasing an additional 680 shares during the period. Finally, Harbour Investments Inc. raised its position in Figma by 1,568.2% during the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company's stock valued at $27,000 after purchasing an additional 690 shares during the period.
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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