Figma (NYSE:FIG) Major Shareholder Sells 12,475 Shares of Stock

Figma, Inc. (NYSE:FIG) major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.39, for a total value of $316,740.25. Following the completion of the transaction, the insider owned 786,700 shares of the company’s stock, valued at approximately $19,974,313. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Figma Stock Down 4.9%

Shares of Figma stock traded down $1.21 on Wednesday, reaching $23.66. 14,005,565 shares of the stock were exchanged, compared to its average volume of 18,366,352. The business has a 50 day moving average price of $21.68 and a two-hundred day moving average price of $22.69. The firm has a market capitalization of $10.77 billion and a price-to-earnings ratio of -6.50. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $91.00.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share 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 for the quarter. During the same quarter last year, the company posted $0.09 EPS. Figma’s quarterly revenue was up 48.2% compared to the same quarter last year. Research analysts forecast that Figma, Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

FIG has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Figma in a report on Thursday, June 25th. Citigroup increased 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. Bank of America started coverage on Figma in a research note on Tuesday, July 7th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Morgan Stanley set a $33.00 price objective on Figma in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Figma has an average rating of “Hold” and a consensus target price of $32.22.

Hedge Funds Weigh In On Figma

Several institutional investors have recently made changes to their positions in FIG. Gladstone Capital Management LLP raised its position in shares of Figma by 2.9% in the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock worth $638,000 after acquiring an additional 481 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Figma during the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Figma in the 3rd quarter valued at about $27,000. Charles Schwab Investment Management Inc. raised its holdings in Figma by 3.8% in the 4th 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 during the period. Finally, Sunbelt Securities Inc. acquired a new position in Figma in the 3rd quarter worth about $30,000.

Figma Company Profile

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.