Key Points
- Figma Chief Accounting Officer Tyler Herb sold 1,536 shares at an average price of $26, generating $39,936. The Rule 10b5-1 transaction was intended to cover tax withholding on vested equity awards, reducing his ownership by 0.59% to 257,189 shares.
- Figma reported quarterly revenue of $333.44 million, up 46.1% year over year, and earnings per share of $0.10, exceeding the consensus estimate of a $0.17 loss. However, the company posted a negative net margin and analysts expect a full-year loss.
- Wall Street’s consensus rating is “Hold”, with an average price target of $32.56. Analyst opinions range from “Sell” to “Buy,” while FIG recently opened at $27.12 and has a one-year range of $16.60 to $94.00.
Figma, Inc. (NYSE:FIG - Get Free Report) CAO Tyler Herb sold 1,536 shares of Figma stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.00, for a total transaction of $39,936.00. Following the sale, the chief accounting officer owned 257,189 shares of the company's stock, valued at approximately $6,686,914. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Tyler Herb also recently made the following trade(s):
- On Monday, June 1st, Tyler Herb sold 1,850 shares of Figma stock. The shares were sold at an average price of $26.40, for a total transaction of $48,840.00.
- On Monday, May 18th, Tyler Herb sold 669 shares of Figma stock. The stock was sold at an average price of $23.79, for a total transaction of $15,915.51.
Figma Stock Performance
FIG stock opened at $27.12 on Wednesday. The stock has a market capitalization of $12.09 billion and a P/E ratio of -7.91. Figma, Inc. has a one year low of $16.60 and a one year high of $94.00. The company has a 50 day moving average price of $21.61 and a two-hundred day moving average price of $22.83.
Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $333.44 million during the quarter. The company's revenue was up 46.1% on a year-over-year basis. Research analysts forecast that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Figma
Several hedge funds and other institutional investors have recently made changes to their positions in FIG. a16z Capital Management L.L.C. purchased a new stake in Figma during the 3rd quarter worth $842,687,000. Viking Global Investors LP purchased a new position in Figma in the fourth quarter valued at about $214,967,000. Durable Capital Partners LP acquired a new position in shares of Figma during the third quarter worth about $278,510,000. Thrive Capital Management LLC acquired a new position in shares of Figma during the third quarter worth about $228,034,000. Finally, Cosmic Management LLC purchased a new stake in shares of Figma in the fourth quarter worth about $151,535,000.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on FIG shares. 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. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Figma in a research note on Tuesday, May 19th. Royal Bank Of Canada cut their price objective on shares of Figma from $28.00 to $22.00 and set a "sector perform" rating on the stock in a report on Thursday, June 25th. Bank of America started coverage on shares of Figma in a research report on Tuesday, July 7th. They issued a "buy" rating and a $30.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Figma from $44.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Figma presently has an average rating of "Hold" and an average price target of $32.56.
Check Out Our Latest Research Report on FIG
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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