Figma (NYSE:FIG) CEO Sells $4,364,238.60 in Stock

Figma, Inc. (NYSE:FIG) CEO Dylan Field sold 174,430 shares of Figma stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.02, for a total value of $4,364,238.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Stock Performance

NYSE:FIG opened at $22.56 on Friday. The company has a market capitalization of $10.05 billion and a price-to-earnings ratio of -6.58. Figma, Inc. has a one year low of $16.60 and a one year high of $142.92. The stock has a 50-day simple moving average of $20.67 and a 200 day simple moving average of $27.59.

Figma (NYSE:FIG) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The business 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 for the quarter was up 46.1% compared to the same quarter last year. On average, equities research analysts forecast that Figma, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FIG shares. Wells Fargo & Company decreased their price target on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Piper Sandler restated an “overweight” rating and issued a $30.00 target price (down from $35.00) on shares of Figma in a research note on Friday, May 15th. Royal Bank Of Canada decreased their target price 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. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Finally, Morgan Stanley decreased their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.63.

Institutional Trading of Figma

Several hedge funds have recently added to or reduced their stakes in the business. SC US Ttgp LTD. acquired a new position in shares of Figma during the third quarter valued at $1,310,305,000. ICONIQ Capital LLC acquired a new position in shares of Figma during the third quarter valued at $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in shares of Figma during the third quarter valued at $842,687,000. Viking Global Investors LP acquired a new position in shares of Figma during the fourth quarter valued at $214,967,000. Finally, Durable Capital Partners LP acquired a new position in shares of Figma during the third quarter valued at $278,510,000.

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.