Key Points
- Figma General Counsel Brendan Mulligan sold 211,599 shares at an average price of $29.79, generating approximately $6.30 million. The Rule 10b5-1 plan transaction reduced his holdings by 22.52% to 727,952 shares.
- Figma reported quarterly revenue of $370.08 million, up 48.2% year over year, and earnings of $0.08 per share, exceeding the consensus estimate of a $0.22 loss.
- Analysts maintain a consensus “Hold” rating with an average price target of $32.56; the stock recently opened at $27.14 and has a one-year range of $16.60 to $71.48.
Figma, Inc. (NYSE:FIG - Get Free Report) General Counsel Brendan Mulligan sold 211,599 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $29.79, for a total transaction of $6,303,534.21. Following the transaction, the general counsel owned 727,952 shares in the company, valued at $21,685,690.08. This represents a 22.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brendan Mulligan also recently made the following trade(s):
- On Wednesday, July 29th, Brendan Mulligan sold 18,213 shares of Figma stock. The shares were sold at an average price of $25.00, for a total value of $455,325.00.
Figma Price Performance
Shares of NYSE FIG opened at $27.14 on Wednesday. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $71.48. The stock has a market capitalization of $12.35 billion and a P/E ratio of -7.46. The company has a 50-day moving average price of $23.81 and a 200-day moving average price of $22.86.
Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The company had revenue of $370.08 million during the quarter. During the same quarter in the previous year, the business earned $0.09 EPS. The company's revenue for the quarter was up 48.2% on a year-over-year basis. As a group, equities research analysts anticipate that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Piper Sandler reiterated 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 reiterated a "sector perform" rating on shares of Figma in a research report on Thursday, August 6th. JPMorgan Chase & Co. decreased their price objective on Figma from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Citigroup boosted their price target on Figma from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Figma currently has an average rating of "Hold" and a consensus target price of $32.56.
Read Our Latest Stock Analysis on Figma
Institutional Investors Weigh In On Figma
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Figma during the 3rd quarter worth $2,282,000. US Bancorp DE bought a new position in Figma in the 3rd quarter worth $31,000. Blair William & Co. IL purchased a new stake in Figma in the third quarter worth about $460,000. Banque Cantonale Vaudoise bought a new position in shares of Figma in the third quarter worth about $271,000. Finally, Franklin Resources Inc. purchased a new position in shares of Figma during the 3rd quarter valued at about $9,084,000.
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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