Insider Selling: Figma (NYSE:FIG) CRO Sells $2,013,605.10 in Stock

Figma, Inc. (NYSE:FIG) CRO Shaunt Voskanian sold 87,510 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the transaction, the executive owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. This represents a 4.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Stock Down 0.1%

Shares of FIG opened at $21.73 on Monday. The company has a 50-day simple moving average of $20.69 and a 200-day simple moving average of $27.48. The company has a market capitalization of $9.68 billion and a PE ratio of -6.33. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million during the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company’s revenue was up 46.1% on a year-over-year basis. On average, research analysts anticipate that Figma, Inc. will post -0.78 EPS for the current year.

Institutional Investors Weigh In On Figma

Hedge funds have recently modified their holdings of the company. SC US Ttgp LTD. purchased a new position in shares of Figma during the 3rd quarter worth about $1,310,305,000. ICONIQ Capital LLC purchased a new position in shares of Figma during the 3rd quarter worth about $1,108,879,000. a16z Capital Management L.L.C. purchased a new position in shares of Figma during the 3rd quarter worth about $842,687,000. Viking Global Investors LP purchased a new position in shares of Figma during the 4th quarter worth about $214,967,000. Finally, Durable Capital Partners LP purchased a new position in Figma in the third quarter valued at approximately $278,510,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FIG shares. Royal Bank Of Canada cut their price target on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. BTIG Research initiated coverage on shares of Figma in a report on Monday, April 13th. They issued a “neutral” rating for the company. Oppenheimer initiated coverage on shares of Figma in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. Piper Sandler reissued an “overweight” rating and issued a $30.00 price objective (down from $35.00) on shares of Figma in a research note on Friday, May 15th. Finally, The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a research note on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.63.

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.