Figma (NYSE:FIG) Major Shareholder Ventures Vi (Jersey) Lp Index Sells 12,475 Shares of Stock

Figma, Inc. (NYSE:FIG) major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.39, for a total transaction of $316,740.25. Following the completion of the transaction, the insider owned 786,700 shares of the company’s stock, valued at approximately $19,974,313. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Figma Price Performance

Shares of FIG stock opened at $23.66 on Thursday. The company has a market capitalization of $10.77 billion and a price-to-earnings ratio of -6.50. The company’s fifty day moving average price is $21.70 and its 200-day moving average price is $22.65. Figma, Inc. has a one year low of $16.60 and a one year high of $91.00.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The business had revenue of $370.08 million for the quarter. During the same period in the prior year, the business earned $0.09 earnings per share. Figma’s revenue was up 48.2% compared to the same quarter last year. Equities research analysts expect that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Figma

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after purchasing an additional 1,167 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Figma during the third quarter worth $26,000. DV Equities LLC purchased a new stake in Figma during the fourth quarter worth $26,000. Concord Wealth Partners boosted its position in Figma by 1,446.8% during the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after acquiring an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Bank of America began coverage on shares of Figma in a report on Tuesday, July 7th. They issued a “buy” rating and a $30.00 target price on the stock. Stifel Nicolaus set a $25.00 price target on shares of Figma in a report on Friday, May 15th. Wells Fargo & Company lowered their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Finally, Citigroup raised their price target on Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Figma presently has a consensus rating of “Hold” and an average target price of $32.22.

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.