Figma (NYSE:FIG) General Counsel Sells $455,325.00 in Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 18,213 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total value of $455,325.00. Following the sale, the general counsel owned 951,571 shares of the company’s stock, valued at approximately $23,789,275. The trade was a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Brendan Mulligan sold 18,741 shares of Figma stock. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64.

Figma Price Performance

NYSE FIG opened at $24.36 on Monday. The firm’s fifty day moving average price is $21.46 and its 200 day moving average price is $22.93. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $142.92. The company has a market capitalization of $10.86 billion and a price-to-earnings ratio of -7.10.

Figma (NYSE:FIG) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million during the quarter. Figma’s revenue was up 46.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Figma, Inc. will post -0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

FIG has been the subject of several research reports. BTIG Research began coverage on Figma in a report on Monday, April 13th. They issued a “neutral” rating for the company. Oppenheimer restated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Bank of America began coverage on Figma in a research report on Tuesday, July 7th. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company decreased their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.56.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Fluent Financial LLC acquired a new position in shares of Figma in the second quarter valued at approximately $765,000. Valeo Financial Advisors LLC purchased a new position in Figma in the 2nd quarter valued at $203,000. Parallel Advisors LLC grew its position in Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after buying an additional 1,167 shares during the last quarter. J. Derek Lewis & Associates Inc. increased its stake in Figma by 58.6% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company’s stock valued at $429,000 after buying an additional 7,500 shares during the period. Finally, Bank of America Corp DE raised its position in Figma by 428.1% during the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company’s stock worth $88,377,000 after buying an additional 3,388,902 shares during the last quarter.

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.