Brendan Mulligan Sells 211,599 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 211,599 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $29.79, for a total value of $6,303,534.21. Following the completion of the sale, the general counsel owned 727,952 shares in the company, valued at $21,685,690.08. The trade was a 22.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 29th, Brendan Mulligan sold 18,213 shares of Figma stock. The shares were sold at an average price of $25.00, for a total transaction of $455,325.00.

Figma Stock Performance

Figma stock opened at $25.71 on Thursday. Figma, Inc. has a one year low of $16.60 and a one year high of $71.48. The company has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $22.89. The firm has a market capitalization of $11.70 billion and a P/E ratio of -7.06.

Figma (NYSE:FIG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.30. The firm 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 revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. As a group, sell-side analysts forecast that Figma, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded Figma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Piper Sandler restated an “overweight” rating and issued a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Citigroup boosted their price target on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Oppenheimer reissued a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Five equities 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, the company has an average rating of “Hold” and a consensus target price of $32.56.

Institutional Trading of Figma

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System bought a new position in shares of Figma in the second quarter valued at $32,766,000. Atlantic Private Wealth LLC raised its position in shares of Figma by 85.7% during the second quarter. Atlantic Private Wealth LLC now owns 6,500 shares of the company’s stock worth $118,000 after purchasing an additional 3,000 shares during the period. Guardian Wealth Advisors LLC NC raised its position in shares of Figma by 94.9% during the second quarter. Guardian Wealth Advisors LLC NC now owns 66,123 shares of the company’s stock worth $1,196,000 after purchasing an additional 32,198 shares during the period. Resolute Advisors LLC boosted its position in shares of Figma by 5.1% in the 2nd quarter. Resolute Advisors LLC now owns 27,133 shares of the company’s stock valued at $491,000 after purchasing an additional 1,320 shares during the period. Finally, Kerrisdale Advisers LLC purchased a new position in Figma in the 2nd quarter worth about $824,000.

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.