Insider Selling: Figma (NYSE:FIG) Major Shareholder Sells 12,475 Shares of Company Stock

Figma, Inc. (NYSE:FIG) major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $18.97, for a total value of $236,650.75. Following the completion of the transaction, the insider owned 751,075 shares in the company, valued at approximately $14,247,892.75. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Figma Trading Up 2.6%

NYSE FIG traded up $0.49 during mid-day trading on Friday, hitting $19.41. The company’s stock had a trading volume of 6,256,293 shares, compared to its average volume of 16,619,047. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of -18.14 and a beta of 1.17. The company’s 50 day simple moving average is $21.95 and its 200 day simple moving average is $22.77. Figma, Inc. has a twelve month low of $16.60 and a twelve month high of $41.24.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.32. Figma had a negative net margin of 40.21% and a negative return on equity of 32.80%. The firm had revenue of $391.42 million for the quarter. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s quarterly revenue was up 42.8% on a year-over-year basis. As a group, research analysts forecast that Figma, Inc. will post -0.75 EPS for the current year.

Hedge Funds Weigh In On Figma

Several large investors have recently bought and sold shares of FIG. Parallel Advisors LLC boosted its holdings in Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after acquiring an additional 1,167 shares during the last quarter. Three Bridge Wealth Advisors LLC bought a new stake in shares of Figma in the 3rd quarter worth $42,000. Sunbelt Securities Inc. raised its holdings in shares of Figma by 287.0% in the first quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock valued at $47,000 after purchasing an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC purchased a new stake in shares of Figma in the first quarter valued at about $74,000. Finally, IFP Advisors Inc raised its holdings in shares of Figma by 176.1% in the second quarter. IFP Advisors Inc now owns 4,327 shares of the company’s stock valued at $78,000 after purchasing an additional 2,760 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup decreased their target price on shares of Figma from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of Figma from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, November 5th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, November 5th. Royal Bank Of Canada decreased their price objective on Figma from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Thursday, November 5th. Finally, Piper Sandler reissued an “overweight” rating on shares of Figma in a report on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Figma has an average rating of “Hold” and a consensus target price of $28.80.

Figma Company Profile

Figma, Inc. develops browser-based software for designing and building digital products. Its platform supports collaborative interface design, interactive prototyping and workflows that help teams plan, create and refine websites, apps and other digital experiences. Figma’s products include Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and access implementation details. Figma Slides provides tools for creating and presenting slide decks.