Figma (NYSE:FIG) CTO Kris Rasmussen Sells 177,387 Shares

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 177,387 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $36.71, for a total value of $6,511,876.77. Following the sale, the chief technology officer directly owned 10,894,245 shares in the company, valued at $399,927,733.95. This trade represents a 1.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Kris Rasmussen also recently made the following trade(s):

• On Monday, December 1st, Kris Rasmussen sold 18,211 shares of Figma stock. The shares were sold at an average price of $35.45, for a total transaction of $645,579.95.
• On Wednesday, November 12th, Kris Rasmussen sold 31,715 shares of Figma stock. The stock was sold at an average price of $45.03, for a total transaction of $1,428,126.45.
• On Monday, November 10th, Kris Rasmussen sold 272,789 shares of Figma stock. The shares were sold at an average price of $43.47, for a total transaction of $11,858,137.83.
• On Monday, November 3rd, Kris Rasmussen sold 73,738 shares of Figma stock. The shares were sold at an average price of $48.17, for a total transaction of $3,551,959.46.

Figma Stock Performance

Shares of Figma stock traded down $0.75 during trading on Friday, hitting $37.96. The stock had a trading volume of 4,993,192 shares, compared to its average volume of 8,331,936. Figma, Inc. has a 12 month low of $32.83 and a 12 month high of $142.92. The company’s 50-day moving average price is $47.86.

Figma (NYSE:FIG) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($1.56) by $1.66. The business had revenue of $274.17 million for the quarter. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the firm posted $0.04 EPS.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America dropped their target price on shares of Figma from $85.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. Royal Bank Of Canada dropped their price objective on shares of Figma from $75.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, September 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research note on Monday. The Goldman Sachs Group lifted their price target on Figma from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company reduced their price objective on Figma from $70.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.86.

Hedge Funds Weigh In On Figma

Several hedge funds and other institutional investors have recently modified their holdings of the company. SC US Ttgp LTD. purchased a new stake in Figma in the third quarter worth $1,310,305,000. ICONIQ Capital LLC purchased a new stake in shares of Figma in the 3rd quarter worth about $1,108,879,000. a16z Capital Management L.L.C. purchased a new stake in shares of Figma in the 3rd quarter worth about $842,687,000. Durable Capital Partners LP purchased a new position in Figma during the 3rd quarter valued at about $278,510,000. Finally, Thrive Capital Management LLC bought a new stake in Figma during the third quarter worth about $228,034,000.

Figma Company Profile

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.