Figma (NYSE:FIG) CFO Sells $508,687.14 in Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 12,714 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $40.01, for a total value of $508,687.14. Following the completion of the transaction, the chief financial officer directly owned 1,578,425 shares in the company, valued at $63,152,784.25. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Praveer Melwani also recently made the following trade(s):

• On Monday, December 22nd, Praveer Melwani sold 11,137 shares of Figma stock. The shares were sold at an average price of $40.01, for a total transaction of $445,591.37.
• On Monday, December 1st, Praveer Melwani sold 15,781 shares of Figma stock. The stock was sold at an average price of $35.45, for a total transaction of $559,436.45.
• On Wednesday, November 12th, Praveer Melwani sold 10,000 shares of Figma stock. The stock was sold at an average price of $45.00, for a total value of $450,000.00.
• On Monday, November 10th, Praveer Melwani sold 13,000 shares of Figma stock. The stock was sold at an average price of $43.46, for a total transaction of $564,980.00.
• On Monday, November 10th, Praveer Melwani sold 14,532 shares of Figma stock. The stock was sold at an average price of $43.47, for a total transaction of $631,706.04.
• On Monday, November 3rd, Praveer Melwani sold 16,092 shares of Figma stock. The shares were sold at an average price of $48.17, for a total transaction of $775,151.64.

Figma Stock Performance

Shares of FIG stock traded down $0.69 on Monday, hitting $37.85. The company’s stock had a trading volume of 3,618,523 shares, compared to its average volume of 9,865,648. The business has a 50 day simple moving average of $41.59. Figma, Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. The company had revenue of $274.17 million during the quarter. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. SC US Ttgp LTD. bought a new stake in Figma in the 3rd quarter worth approximately $1,310,305,000. ICONIQ Capital LLC bought a new stake in shares of Figma in the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. bought a new position in shares of Figma during the third quarter valued at approximately $842,687,000. Durable Capital Partners LP bought a new stake in Figma in the third quarter valued at $278,510,000. Finally, Thrive Capital Management LLC purchased a new position in Figma during the 3rd quarter valued at $228,034,000.

Analyst Upgrades and Downgrades

FIG has been the topic of a number of research reports. William Blair reiterated an “outperform” rating on shares of Figma in a research report on Thursday, September 4th. Wells Fargo & Company reduced their target price on shares of Figma from $70.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Bank of America reduced their price objective on Figma from $85.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Royal Bank Of Canada cut their price target on shares of Figma from $75.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, September 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Figma from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.86.

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.