Figma (NYSE:FIG) CTO Sells $6,511,876.77 in Stock

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 177,387 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $36.71, for a total value of $6,511,876.77. Following the completion of the sale, the chief technology officer directly owned 10,894,245 shares in the company, valued at $399,927,733.95. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, December 1st, Kris Rasmussen sold 18,211 shares of Figma stock. The shares were sold at an average price of $35.45, for a total value of $645,579.95.
• On Wednesday, November 12th, Kris Rasmussen sold 31,715 shares of Figma stock. The stock was sold at an average price of $45.03, for a total transaction of $1,428,126.45.
• On Monday, November 10th, Kris Rasmussen sold 272,789 shares of Figma stock. The stock was sold at an average price of $43.47, for a total transaction of $11,858,137.83.
• On Monday, November 3rd, Kris Rasmussen sold 73,738 shares of Figma stock. The stock was sold at an average price of $48.17, for a total transaction of $3,551,959.46.

Figma Trading Down 1.9%

FIG stock traded down $0.75 during midday trading on Friday, hitting $37.96. The company’s stock had a trading volume of 4,993,192 shares, compared to its average volume of 8,331,936. The business has a 50-day simple moving average of $47.86. Figma, Inc. has a 12 month low of $32.83 and a 12 month high of $142.92.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. The business had revenue of $274.17 million during the quarter. The company’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share.

Hedge Funds Weigh In On Figma

Institutional investors have recently bought and sold shares of the stock. SC US Ttgp LTD. purchased a new position in Figma during the third quarter valued at $1,310,305,000. ICONIQ Capital LLC purchased a new position in shares of Figma during the 3rd quarter valued at about $1,108,879,000. a16z Capital Management L.L.C. bought a new position in shares of Figma during the 3rd quarter valued at approximately $842,687,000. Durable Capital Partners LP purchased a new stake in Figma in the 3rd quarter worth approximately $278,510,000. Finally, Thrive Capital Management LLC bought a new stake in Figma during the 3rd quarter worth approximately $228,034,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FIG shares. Wells Fargo & Company dropped their price target on shares of Figma from $70.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Figma to a “hold” rating in a research report on Saturday, August 9th. Zacks Research raised shares of Figma to a “hold” rating in a research report on Thursday, August 21st. William Blair reissued an “outperform” rating on shares of Figma in a report on Thursday, September 4th. Finally, Wolfe Research assumed coverage on Figma in a report on Monday, August 25th. They issued a “peer perform” rating for the company. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.86.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.