Insider Selling: Figma (NYSE:FIG) Director Sells $316,740.25 in Stock

Figma, Inc. (NYSE:FIG) Director Daniel Rimer sold 12,475 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.39, for a total value of $316,740.25. Following the completion of the transaction, the director owned 786,700 shares of the company’s stock, valued at $19,974,313. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Figma Stock Performance

Shares of FIG stock opened at $25.40 on Friday. The company has a market capitalization of $11.56 billion and a P/E ratio of -6.98. The company’s 50 day moving average price is $21.85 and its two-hundred day moving average price is $22.65. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $81.00.

Figma (NYSE:FIG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating 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 last year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. Analysts forecast that Figma, Inc. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

FIG has been the subject of a number of research analyst reports. Morgan Stanley set a $33.00 target price on shares of Figma in a research note on Thursday, August 6th. Stifel Nicolaus set a $25.00 price target on Figma in a research note on Friday, May 15th. Wells Fargo & Company cut their price target on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Finally, Citigroup upped their price objective on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Five investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.22.

Institutional Trading of Figma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after purchasing an additional 1,167 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Figma during the 3rd quarter worth approximately $26,000. DV Equities LLC bought a new stake in shares of Figma during the 4th quarter worth approximately $26,000. Concord Wealth Partners raised its stake in shares of Figma by 1,446.8% during the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after purchasing an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after purchasing an additional 690 shares in the last quarter.

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.