Figma (NYSE:FIG) CAO Sells $30,657.16 in Stock

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 1,418 shares of Figma stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $21.62, for a total value of $30,657.16. Following the transaction, the chief accounting officer owned 246,130 shares in the company, valued at $5,321,330.60. This trade represents a 0.57% decrease in their position. The transaction 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.

Tyler Herb also recently made the following trade(s):

• On Thursday, September 3rd, Tyler Herb sold 1,416 shares of Figma stock. The stock was sold at an average price of $26.29, for a total value of $37,226.64.
• On Thursday, August 27th, Tyler Herb sold 2,000 shares of Figma stock. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00.
• On Friday, August 21st, Tyler Herb sold 1,840 shares of Figma stock. The shares were sold at an average price of $27.14, for a total transaction of $49,937.60.
• On Tuesday, August 4th, Tyler Herb sold 709 shares of Figma stock. The shares were sold at an average price of $26.00, for a total transaction of $18,434.00.
• On Monday, August 3rd, Tyler Herb sold 1,536 shares of Figma stock. The stock was sold at an average price of $26.00, for a total transaction of $39,936.00.

Figma Stock Down 0.8%

Shares of NYSE:FIG opened at $22.45 on Friday. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $70.40. The company’s fifty day simple moving average is $24.22 and its 200 day simple moving average is $22.03. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of -6.17 and a beta of 1.32.

Figma (NYSE:FIG) last announced its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million during the quarter. During the same period in the previous year, the company posted $0.09 earnings per share. Figma’s revenue for the quarter was up 48.2% on a year-over-year basis. Research analysts expect that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup increased their price objective on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Piper Sandler restated an “overweight” rating and issued a $30.00 target price on shares of Figma in a research note on Thursday, June 25th. Morgan Stanley set a $33.00 price target on shares of Figma in a research note on Thursday, August 6th. Wells Fargo & Company lowered their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.56.

Hedge Funds Weigh In On Figma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIG. Parallel Advisors LLC raised its position in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after purchasing an additional 1,167 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Figma by 287.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock worth $47,000 after buying an additional 1,650 shares during the period. Atlantic Private Wealth LLC acquired a new position in Figma in the 1st quarter valued at about $74,000. IFP Advisors Inc raised its holdings in Figma by 176.1% in the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock valued at $78,000 after acquiring an additional 2,760 shares during the period. Finally, North Star Investment Management Corp. lifted its position in Figma by 138.9% during the first quarter. North Star Investment Management Corp. now owns 4,300 shares of the company’s stock worth $91,000 after acquiring an additional 2,500 shares during the last quarter.

Figma Company Profile

Figma, Inc is a collaborative software company that provides browser-based tools for designing, prototyping and developing digital products. Its platform enables product designers, developers, researchers, marketers and other stakeholders to work together on user interfaces and digital experiences in real time.

The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for collaborative brainstorming and whiteboarding, and Dev Mode, which helps developers inspect designs and translate them into working products.