Shaunt Voskanian Sells 87,510 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) CRO Shaunt Voskanian sold 87,510 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total value of $2,013,605.10. Following the sale, the executive owned 1,781,380 shares of the company’s stock, valued at approximately $40,989,553.80. This represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Price Performance

Shares of NYSE:FIG traded down $0.78 during mid-day trading on Friday, reaching $21.73. 16,361,734 shares of the company traded hands, compared to its average volume of 16,553,553. The company’s 50 day moving average price is $20.67 and its 200-day moving average price is $27.59. The firm has a market cap of $9.68 billion and a PE ratio of -6.33. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The company’s revenue was up 46.1% on a year-over-year basis. On average, research analysts predict that Figma, Inc. will post -0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FIG. Royal Bank Of Canada cut their price objective on Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a research note on Friday, May 15th. Oppenheimer began coverage on Figma in a research note on Wednesday, March 25th. They set a “market perform” rating for the company. Stifel Nicolaus set a $25.00 price objective on Figma in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $35.00 price objective on Figma in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Figma presently has a consensus rating of “Hold” and a consensus target price of $38.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SC US Ttgp LTD. boosted its stake in Figma by 5.8% in the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after purchasing an additional 1,466,851 shares during the period. ICONIQ Capital LLC bought a new position in Figma in the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. bought a new position in Figma in the 3rd quarter worth approximately $842,687,000. JPMorgan Chase & Co. boosted its stake in Figma by 119.4% in the 4th quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after purchasing an additional 3,615,198 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Figma by 93.8% in the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after purchasing an additional 2,789,986 shares during the period.

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.