Figma (NYSE:FIG) CFO Praveer Melwani Sells 83,974 Shares of Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 83,974 shares of Figma stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98. Following the completion of the transaction, the chief financial officer owned 1,749,024 shares of the company’s stock, valued at approximately $39,825,276.48. This represents a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Stock Down 3.5%

Shares of Figma stock opened at $21.73 on Friday. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $142.92. The business has a 50-day moving average price of $20.69 and a 200 day moving average price of $27.55. The firm has a market cap of $9.68 billion and a PE ratio of -6.33.

Figma (NYSE:FIG) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm had revenue of $333.44 million during the quarter. The business’s revenue was up 46.1% on a year-over-year basis. On average, sell-side analysts expect that Figma, Inc. will post -0.78 EPS for the current year.

Institutional Investors Weigh In On Figma

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Figma during the 3rd quarter worth approximately $26,000. DV Equities LLC purchased a new stake in Figma during the 4th quarter worth approximately $26,000. Concord Wealth Partners increased its stake in Figma by 1,446.8% during the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after buying an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after buying an additional 690 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FIG shares. BTIG Research started coverage on Figma in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Wells Fargo & Company cut 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. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. JPMorgan Chase & Co. cut their price target on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Finally, Morgan Stanley cut their price objective 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 research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.63.

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.