Insider Selling: Figma (NYSE:FIG) General Counsel Sells 4,817 Shares of Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 4,817 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.30, for a total transaction of $136,321.10. Following the completion of the sale, the general counsel owned 830,461 shares of the company’s stock, valued at $23,502,046.30. The trade was a 0.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, February 19th, Brendan Mulligan sold 5,227 shares of Figma stock. The stock was sold at an average price of $26.00, for a total value of $135,902.00.
• On Tuesday, February 10th, Brendan Mulligan sold 5,227 shares of Figma stock. The stock was sold at an average price of $25.00, for a total transaction of $130,675.00.
• On Monday, February 2nd, Brendan Mulligan sold 7,671 shares of Figma stock. The stock was sold at an average price of $24.86, for a total transaction of $190,701.06.
• On Thursday, January 15th, Brendan Mulligan sold 5,666 shares of Figma stock. The stock was sold at an average price of $32.02, for a total transaction of $181,425.32.
• On Monday, January 5th, Brendan Mulligan sold 5,666 shares of Figma stock. The stock was sold at an average price of $37.25, for a total value of $211,058.50.
• On Friday, January 2nd, Brendan Mulligan sold 6,793 shares of Figma stock. The shares were sold at an average price of $37.21, for a total transaction of $252,767.53.
• On Monday, December 15th, Brendan Mulligan sold 4,392 shares of Figma stock. The stock was sold at an average price of $34.65, for a total value of $152,182.80.

Figma Stock Up 2.0%

NYSE:FIG traded up $0.60 during trading hours on Thursday, hitting $30.24. 14,137,547 shares of the company’s stock traded hands, compared to its average volume of 15,104,380. The business’s fifty day simple moving average is $29.56 and its two-hundred day simple moving average is $43.49. The firm has a market cap of $13.34 billion and a P/E ratio of -9.69. Figma, Inc. has a 52 week low of $19.85 and a 52 week high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.28. The company had revenue of $303.78 million for the quarter. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The company’s quarterly revenue was up 40.1% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts recently weighed in on FIG shares. Royal Bank Of Canada reduced their price target on Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, February 19th. The Goldman Sachs Group set a $35.00 target price on Figma in a research report on Thursday, February 19th. Stifel Nicolaus lowered their price target on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Wells Fargo & Company decreased their price target on Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Finally, Barclays raised Figma to a “neutral” rating in a research note on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.25.

Hedge Funds Weigh In On Figma

Large investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Figma in the third quarter worth $26,000. NewEdge Advisors LLC bought a new stake in shares of Figma during the third quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Figma during the third quarter worth $27,000. Sunbelt Securities Inc. acquired a new stake in Figma during the 3rd quarter worth $30,000. Finally, US Bancorp DE bought a new stake in shares of Figma in the 3rd quarter valued at about $31,000.

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.