Insider Selling: Figma (NYSE:FIG) CTO Sells 179,331 Shares of Stock

Figma, Inc. (NYSE:FIG) CTO Kris Rasmussen sold 179,331 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $29.80, for a total transaction of $5,344,063.80. Following the transaction, the chief technology officer owned 10,169,178 shares of the company’s stock, valued at approximately $303,041,504.40. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, February 25th, Kris Rasmussen sold 51,359 shares of Figma stock. The stock was sold at an average price of $30.00, for a total transaction of $1,540,770.00.
• On Tuesday, February 10th, Kris Rasmussen sold 205,438 shares of Figma stock. The shares were sold at an average price of $25.01, for a total transaction of $5,138,004.38.
• On Monday, February 2nd, Kris Rasmussen sold 74,305 shares of Figma stock. The shares were sold at an average price of $24.86, for a total transaction of $1,847,222.30.
• On Monday, January 5th, Kris Rasmussen sold 181,345 shares of Figma stock. The stock was sold at an average price of $37.25, for a total value of $6,755,101.25.
• On Friday, January 2nd, Kris Rasmussen sold 14,252 shares of Figma stock. The shares were sold at an average price of $37.21, for a total value of $530,316.92.

Figma Stock Up 2.0%

Figma stock traded up $0.60 during trading hours on Thursday, hitting $30.24. The stock had a trading volume of 14,137,547 shares, compared to its average volume of 15,104,380. The company has a 50-day moving average of $29.56 and a two-hundred day moving average of $43.49. The company has a market cap of $13.34 billion and a PE ratio of -9.69. Figma, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.28. The company had revenue of $303.78 million for the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.Figma’s revenue was up 40.1% on a year-over-year basis.

Institutional Investors Weigh In On Figma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC bought a new stake in shares of Figma in the 3rd quarter valued at $3,412,000. VERITY Wealth Advisors acquired a new position in shares of Figma during the 3rd quarter worth approximately $519,000. Tripletail Wealth Management LLC bought a new stake in Figma during the third quarter worth $53,000. Renaissance Capital LLC bought a new stake in shares of Figma in the 3rd quarter valued at about $2,439,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Figma in the third quarter valued at approximately $39,000.

Analyst Upgrades and Downgrades

FIG has been the topic of several analyst reports. Stifel Nicolaus lowered their price target on shares of Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Barclays upgraded shares of Figma to a “neutral” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. dropped their price target on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Royal Bank Of Canada cut their price target on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group set a $35.00 price objective on Figma in a report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.25.

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.