Insider Selling: Figma (NYSE:FIG) General Counsel Sells 4,817 Shares of Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 4,817 shares of Figma stock in a transaction on Monday, March 16th. The shares were sold at an average price of $26.30, for a total transaction of $126,687.10. Following the completion of the transaction, the general counsel directly owned 825,644 shares in the company, valued at $21,714,437.20. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Brendan Mulligan also recently made the following trade(s):

• On Tuesday, March 3rd, Brendan Mulligan sold 4,817 shares of Figma stock. The stock was sold at an average price of $28.30, for a total transaction of $136,321.10.
• On Thursday, February 19th, Brendan Mulligan sold 5,227 shares of Figma stock. The stock was sold at an average price of $26.00, for a total transaction of $135,902.00.
• On Tuesday, February 10th, Brendan Mulligan sold 5,227 shares of Figma stock. The shares were sold at an average price of $25.00, for a total transaction of $130,675.00.
• On Monday, February 2nd, Brendan Mulligan sold 7,671 shares of Figma stock. The shares were sold at an average price of $24.86, for a total transaction of $190,701.06.
• On Thursday, January 15th, Brendan Mulligan sold 5,666 shares of Figma stock. The shares were sold at an average price of $32.02, for a total transaction of $181,425.32.
• On Monday, January 5th, Brendan Mulligan sold 5,666 shares of Figma stock. The stock was sold at an average price of $37.25, for a total transaction of $211,058.50.
• On Friday, January 2nd, Brendan Mulligan sold 6,793 shares of Figma stock. The shares were sold at an average price of $37.21, for a total value of $252,767.53.

Figma Stock Down 7.9%

FIG traded down $2.18 on Wednesday, hitting $25.27. 17,040,679 shares of the company traded hands, compared to its average volume of 14,247,079. Figma, Inc. has a 12-month low of $19.85 and a 12-month high of $142.92. The company has a 50 day moving average of $27.82 and a 200-day moving average of $40.50. The stock has a market capitalization of $11.15 billion and a PE ratio of -8.10.

Figma (NYSE:FIG) last announced its earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The company had revenue of $303.78 million for the quarter. The company’s quarterly revenue was up 40.1% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Figma during the 3rd quarter valued at approximately $26,000. NewEdge Advisors LLC purchased a new position in Figma in the 3rd quarter valued at approximately $26,000. DV Equities LLC acquired a new position in Figma during the fourth quarter worth $26,000. Concord Wealth Partners boosted its position in Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after purchasing an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $35.00 price objective on shares of Figma in a research report on Thursday, February 19th. Royal Bank Of Canada lowered their target price on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, February 19th. The Goldman Sachs Group set a $35.00 price target on shares of Figma in a report on Thursday, February 19th. Stifel Nicolaus reduced their price objective on shares of Figma from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.25.

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.