Daniel Rimer Sells 12,475 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) Director Daniel Rimer sold 12,475 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.39, for a total value of $316,740.25. Following the transaction, the director owned 786,700 shares of the company’s stock, valued at approximately $19,974,313. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Figma Trading Up 11.3%

Shares of NYSE:FIG opened at $26.42 on Friday. The company has a market capitalization of $12.03 billion and a price-to-earnings ratio of -7.26. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $82.94. The business has a 50-day moving average price of $21.78 and a 200 day moving average price of $22.63.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million for the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. As a group, equities research analysts predict that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FIG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Citigroup boosted their target price on Figma from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Piper Sandler restated an “overweight” rating and set a $30.00 price target on shares of Figma in a research note on Thursday, June 25th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $33.00 price target on shares of Figma in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FIG. Greylock XIV GP LLC purchased a new stake in Figma during the 2nd quarter worth about $1,056,824,403,000. Fluent Financial LLC acquired a new position in shares of Figma during the second quarter worth about $765,000. Valeo Financial Advisors LLC acquired a new position in shares of Figma during the second quarter worth about $203,000. Parallel Advisors LLC increased its stake in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares during the period. Finally, J. Derek Lewis & Associates Inc. increased its stake in shares of Figma by 58.6% during the first quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company’s stock worth $429,000 after buying an additional 7,500 shares during the period.

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.