Kris Rasmussen Sells 261,301 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 261,301 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $25.07, for a total value of $6,550,816.07. Following the transaction, the chief technology officer directly owned 9,492,946 shares in the company, valued at approximately $237,988,156.22. The trade was a 2.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kris Rasmussen also recently made the following trade(s):

• On Tuesday, May 19th, Kris Rasmussen sold 327,046 shares of Figma stock. The shares were sold at an average price of $25.07, for a total value of $8,199,043.22.

Figma Stock Up 2.5%

NYSE:FIG traded up $0.60 on Friday, reaching $24.36. 24,722,495 shares of the company’s stock were exchanged, 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 52-week low of $16.60 and a 52-week high of $142.92.

Figma (NYSE:FIG) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business had revenue of $333.44 million for the quarter. Figma’s revenue was up 46.1% compared to the same quarter last year. Analysts predict that Figma, Inc. will post -0.79 EPS for the current year.

Analyst Ratings Changes

FIG has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Citigroup cut their price objective on Figma from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Bank of America assumed coverage on Figma in a report on Tuesday, July 7th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Wells Fargo & Company cut their price target on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.56.

Institutional Investors Weigh In On Figma

A number of large investors have recently modified their holdings of the company. a16z Capital Management L.L.C. acquired a new stake in shares of Figma in the 3rd quarter valued at $842,687,000. Viking Global Investors LP acquired a new position in shares of Figma during the fourth quarter worth $214,967,000. Durable Capital Partners LP purchased a new position in Figma in the third quarter valued at $278,510,000. Thrive Capital Management LLC acquired a new stake in Figma in the third quarter valued at $228,034,000. Finally, Cosmic Management LLC acquired a new stake in Figma in the fourth quarter valued at $151,535,000.

About Figma

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.