Insider Selling: Figma (NYSE:FIG) CTO Sells 51,359 Shares of Stock

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 51,359 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $30.00, for a total transaction of $1,540,770.00. Following the transaction, the chief technology officer owned 10,367,546 shares in the company, valued at approximately $311,026,380. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kris Rasmussen also recently made the following trade(s):

• On Tuesday, February 10th, Kris Rasmussen sold 205,438 shares of Figma stock. The shares were sold at an average price of $25.01, for a total transaction of $5,138,004.38.
• On Monday, February 2nd, Kris Rasmussen sold 74,305 shares of Figma stock. The stock was sold at an average price of $24.86, for a total transaction of $1,847,222.30.
• On Monday, January 5th, Kris Rasmussen sold 181,345 shares of Figma stock. The shares were sold at an average price of $37.25, for a total transaction of $6,755,101.25.
• On Friday, January 2nd, Kris Rasmussen sold 14,252 shares of Figma stock. The shares were sold at an average price of $37.21, for a total transaction of $530,316.92.
• On Wednesday, December 3rd, Kris Rasmussen sold 177,387 shares of Figma stock. The stock was sold at an average price of $36.71, for a total value of $6,511,876.77.
• On Monday, December 1st, Kris Rasmussen sold 18,211 shares of Figma stock. The shares were sold at an average price of $35.45, for a total value of $645,579.95.

Figma Stock Performance

Figma stock traded down $0.83 during mid-day trading on Friday, reaching $29.39. 13,048,663 shares of the company were exchanged, compared to its average volume of 15,359,438. The firm’s 50-day simple moving average is $30.29 and its two-hundred day simple moving average is $45.19. Figma, Inc. has a twelve month low of $19.85 and a twelve month high of $142.92. The firm has a market cap of $12.96 billion and a PE ratio of -9.42.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The firm had revenue of $303.78 million during the quarter. The firm’s revenue was up 40.1% compared to the same quarter last year.

Institutional Trading of Figma

A number of institutional investors have recently bought and sold shares of FIG. Alphabet Inc. purchased a new position in Figma during the 3rd quarter valued at about $11,182,000. Rit Capital Partners PLC purchased a new stake in shares of Figma in the third quarter valued at about $2,592,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Figma in the third quarter valued at approximately $11,075,000. Rakuten Investment Management Inc. purchased a new position in shares of Figma during the 3rd quarter worth approximately $4,425,000. Finally, Warm Springs Advisors Inc. acquired a new position in shares of Figma during the 3rd quarter worth approximately $2,075,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FIG shares. JPMorgan Chase & Co. dropped their price target on shares of Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Stifel Nicolaus lowered their price objective on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Royal Bank Of Canada cut their target price on Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, February 19th. Morgan Stanley set a $44.00 price target on Figma in a research note on Thursday, February 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $35.00 price objective on shares of Figma in a research report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Figma presently has an average rating of “Hold” and an average target price of $43.25.

About Figma

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.