Insider Selling: Figma (NYSE:FIG) CAO Sells $89,601.68 in Stock

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 2,408 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $37.21, for a total value of $89,601.68. Following the completion of the sale, the chief accounting officer owned 200,998 shares of the company’s stock, valued at approximately $7,479,135.58. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tyler Herb also recently made the following trade(s):

• On Monday, January 5th, Tyler Herb sold 2,840 shares of Figma stock. The shares were sold at an average price of $37.15, for a total transaction of $105,506.00.
• On Wednesday, December 3rd, Tyler Herb sold 2,310 shares of Figma stock. The shares were sold at an average price of $36.60, for a total transaction of $84,546.00.
• On Monday, December 1st, Tyler Herb sold 3,073 shares of Figma stock. The stock was sold at an average price of $35.45, for a total transaction of $108,937.85.
• On Monday, November 17th, Tyler Herb sold 757 shares of Figma stock. The stock was sold at an average price of $38.21, for a total transaction of $28,924.97.
• On Monday, November 10th, Tyler Herb sold 43,357 shares of Figma stock. The stock was sold at an average price of $43.93, for a total transaction of $1,904,673.01.
• On Monday, November 3rd, Tyler Herb sold 3,133 shares of Figma stock. The stock was sold at an average price of $48.17, for a total transaction of $150,916.61.

Figma Stock Up 0.2%

Shares of NYSE:FIG opened at $37.34 on Friday. The stock has a market capitalization of $15.53 billion and a price-to-earnings ratio of -13.93. The company’s 50 day simple moving average is $38.82. Figma, Inc. has a 1 year low of $32.83 and a 1 year high of $142.92.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($1.56) by $1.66. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.The firm had revenue of $274.17 million for the quarter. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 38.0% compared to the same quarter last year.

Hedge Funds Weigh In On Figma

A number of hedge funds and other institutional investors have recently modified their holdings of FIG. Voya Investment Management LLC purchased a new stake in Figma during the third quarter worth $3,412,000. Renaissance Capital LLC bought a new position in shares of Figma in the 3rd quarter worth $2,439,000. Signaturefd LLC purchased a new stake in shares of Figma during the 3rd quarter worth $1,235,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Figma during the third quarter valued at about $11,075,000. Finally, Elite Wealth Management Inc. purchased a new position in Figma in the third quarter valued at about $1,333,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FIG shares. Piper Sandler cut their price target on shares of Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Barclays raised shares of Figma to a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research note on Monday, December 29th. Finally, Wells Fargo & Company raised Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 price objective on the stock in a research note on Thursday. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Figma has an average rating of “Hold” and a consensus target price of $56.63.

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.