Figma (NYSE:FIG) General Counsel Brendan Mulligan Sells 18,213 Shares of Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 18,213 shares of Figma stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total transaction of $455,325.00. Following the transaction, the general counsel directly owned 951,571 shares of the company’s stock, valued at approximately $23,789,275. This trade represents a 1.88% decrease in their ownership of the stock. 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.

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

• On Tuesday, May 19th, Brendan Mulligan sold 18,741 shares of Figma stock. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64.

Figma Price Performance

Shares of FIG traded up $0.60 during trading hours on Friday, hitting $24.36. The company had a trading volume of 24,722,495 shares, compared to its average volume of 20,634,288. The business has a fifty day moving average of $21.46 and a 200-day moving average of $23.02. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company’s quarterly revenue was up 46.1% on a year-over-year basis. Equities analysts forecast that Figma, Inc. will post -0.79 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Bank of America assumed coverage on Figma in a report on Tuesday, July 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research report on Thursday, June 25th. Finally, Morgan Stanley dropped their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FIG. NewEdge Advisors LLC acquired a new position in Figma during the third quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Figma in the third quarter worth about $27,000. Sunbelt Securities Inc. acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $30,000. US Bancorp DE acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $31,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Figma during the 3rd quarter valued at approximately $33,000.

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.