Figma (NYSE:FIG) Stock: Insider Daniel Rimer Sells 12,475 Shares

Figma, Inc. (NYSE:FIG) Director Daniel Rimer sold 12,475 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $18.97, for a total value of $236,650.75. Following the transaction, the director directly owned 751,075 shares in the company, valued at $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 can be accessed through this link.

Figma Price Performance

Figma stock traded up $0.49 during midday trading on Friday, reaching $19.41. The company’s stock had a trading volume of 6,257,940 shares, compared to its average volume of 11,581,324. The stock’s 50-day simple moving average is $21.83 and its 200-day simple moving average is $22.73. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $41.24. The stock has a market capitalization of $8.89 billion, a P/E ratio of -18.14 and a beta of 1.17.

Figma (NYSE:FIG) last issued its quarterly earnings results 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 return on equity of 32.80% and a negative net margin of 40.21%. The business had revenue of $391.42 million during the quarter. During the same period in the prior year, the business posted $0.10 EPS. Figma’s revenue was up 42.8% compared to the same quarter last year. As a group, equities research analysts expect that Figma, Inc. will post -0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on FIG shares. Citigroup decreased their price objective 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. Weiss Ratings downgraded shares of Figma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, November 9th. Wells Fargo & Company dropped their target price on shares of Figma from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Rothschild & Co Redburn began coverage on shares of Figma in a research note on Monday, November 2nd. They set a “neutral” rating and a $23.00 price target on the stock. Finally, KeyCorp initiated coverage on shares of Figma in a report on Monday, September 14th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Figma presently has an average rating of “Hold” and an average target price of $28.80.

Institutional Trading of Figma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amova Asset Management Americas Inc. increased its holdings in Figma by 641.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company’s stock worth $31,031,000 after buying an additional 1,269,900 shares during the period. Greylock XIV GP LLC acquired a new stake in Figma during the 2nd quarter valued at approximately $1,056,824,403. Rokos Capital Management LLP acquired a new stake in Figma during the 1st quarter valued at approximately $4,414,000. Entropy Technologies LP acquired a new stake in Figma during the 1st quarter valued at approximately $2,263,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Figma in the 1st quarter valued at $1,693,000.

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.