Figma (NYSE:FIG) Shares Gap Down Following Insider Selling

Figma, Inc. (NYSE:FIG)’s stock price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $27.27, but opened at $26.03. Figma shares last traded at $27.0010, with a volume of 2,536,492 shares traded.

Specifically, CAO Tyler Herb sold 1,840 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $27.14, for a total transaction of $49,937.60. Following the completion of the transaction, the chief accounting officer owned 254,640 shares of the company’s stock, valued at approximately $6,910,929.60. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FIG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research note on Friday, August 14th. JPMorgan Chase & Co. reduced their target price on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Bank of America raised their price target on Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Finally, Wells Fargo & Company reduced their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Figma presently has an average rating of “Hold” and a consensus price target of $32.56.

Figma Trading Down 1.0%

The firm has a market capitalization of $12.29 billion and a P/E ratio of -7.42. The business’s 50 day simple moving average is $22.87 and its two-hundred day simple moving average is $22.66.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million during the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. Figma’s revenue was up 48.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Analysts predict that Figma, Inc. will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FIG. Greylock XIV GP LLC purchased a new stake in Figma in the 2nd quarter worth approximately $1,056,824,403,000. SC US Ttgp LTD. raised its holdings in Figma by 5.8% during the first quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock valued at $565,034,000 after acquiring an additional 1,466,851 shares during the period. a16z Capital Management L.L.C. bought a new stake in Figma during the third quarter valued at about $842,687,000. JPMorgan Chase & Co. lifted its position in shares of Figma by 119.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock valued at $248,284,000 after acquiring an additional 3,615,198 shares in the last quarter. Finally, Viking Global Investors LP purchased a new position in shares of Figma in the fourth quarter valued at about $214,967,000.

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.