Figma (NYSE:FIG) Director Sells $458,619.58 in Stock

Figma, Inc. (NYSE:FIG) Director Lynn Vojvodich Radakovich sold 20,266 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $22.63, for a total transaction of $458,619.58. Following the sale, the director owned 84,809 shares of the company’s stock, valued at approximately $1,919,227.67. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Price Performance

NYSE:FIG traded up $0.04 during trading hours on Monday, hitting $21.53. The company had a trading volume of 6,181,898 shares, compared to its average volume of 17,085,676. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $58.58. The company has a market capitalization of $9.80 billion, a PE ratio of -5.91 and a beta of 1.32. The stock has a 50-day moving average price of $23.86 and a 200 day moving average price of $22.05.

Figma (NYSE:FIG) last posted its earnings results 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 firm had revenue of $370.08 million for the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%. The firm’s revenue was up 48.2% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Analysts anticipate that Figma, Inc. will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc boosted its position in Figma by 67.0% during the third quarter. IFP Advisors Inc now owns 7,224 shares of the company’s stock worth $152,000 after purchasing an additional 2,897 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Figma by 391.3% during the third quarter. TD Waterhouse Canada Inc. now owns 15,820 shares of the company’s stock valued at $341,000 after acquiring an additional 12,600 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in shares of Figma by 6.9% during the third quarter. Seelaus Asset Management LLC now owns 12,217 shares of the company’s stock valued at $257,000 after acquiring an additional 788 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in Figma in the 3rd quarter valued at $210,000. Finally, Zevenbergen Capital Investments LLC acquired a new position in Figma in the 3rd quarter valued at $483,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Figma from $25.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, October 14th. Citigroup raised their target price on shares of Figma from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Bank of America increased their price objective on Figma from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Figma in a research report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Figma has an average rating of “Hold” and an average target price of $31.56.

About Figma

Figma, Inc (NYSE: FIG) develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.

The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.