Figma (NYSE:FIG) General Counsel Sells $130,675.00 in Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 5,227 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $25.00, for a total value of $130,675.00. Following the transaction, the general counsel directly owned 850,489 shares of the company’s stock, valued at approximately $21,262,225. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 value of $190,701.06.
• On Thursday, January 15th, Brendan Mulligan sold 5,666 shares of Figma stock. The shares were sold at an average price of $32.02, for a total value 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 stock was 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 shares were sold at an average price of $34.65, for a total transaction of $152,182.80.
• On Wednesday, December 3rd, Brendan Mulligan sold 4,392 shares of Figma stock. The stock was sold at an average price of $36.68, for a total transaction of $161,098.56.
• On Monday, December 1st, Brendan Mulligan sold 9,343 shares of Figma stock. The stock was sold at an average price of $35.45, for a total transaction of $331,209.35.
• On Monday, November 17th, Brendan Mulligan sold 4,299 shares of Figma stock. The stock was sold at an average price of $37.29, for a total transaction of $160,309.71.

Figma Stock Performance

Figma stock opened at $22.49 on Friday. The firm has a market cap of $9.35 billion and a price-to-earnings ratio of -8.39. Figma, Inc. has a 1 year low of $19.85 and a 1 year high of $142.92. The firm’s 50 day moving average price is $32.30 and its two-hundred day moving average price is $48.29.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FIG shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Wells Fargo & Company raised shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research report on Thursday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Piper Sandler decreased their price objective on shares of Figma from $70.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Finally, Barclays upgraded shares of Figma to a “neutral” rating in a research report 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rit Capital Partners PLC bought a new stake in Figma during the third quarter worth approximately $2,592,000. Alphabet Inc. acquired a new stake in shares of Figma in the third quarter worth $11,182,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Figma during the 3rd quarter worth $11,075,000. Rakuten Investment Management Inc. acquired a new position in Figma in the 3rd quarter valued at $4,425,000. Finally, Baillie Gifford & Co. bought a new position in Figma in the 3rd quarter worth $154,242,000.

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.