Figma (NYSE:FIG) CAO Sells 2,000 Shares of Stock

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the chief accounting officer directly owned 252,640 shares in the company, valued at $7,579,200. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tyler Herb also recently made the following trade(s):

• On Friday, August 21st, Tyler Herb sold 1,840 shares of Figma stock. The shares were sold at an average price of $27.14, for a total transaction of $49,937.60.
• On Tuesday, August 4th, Tyler Herb sold 709 shares of Figma stock. The shares were sold at an average price of $26.00, for a total transaction of $18,434.00.
• On Monday, August 3rd, Tyler Herb sold 1,536 shares of Figma stock. The stock was sold at an average price of $26.00, for a total transaction of $39,936.00.

Figma Price Performance

NYSE FIG traded down $1.35 on Monday, reaching $27.47. The company had a trading volume of 19,914,272 shares, compared to its average volume of 18,102,666. The firm has a market cap of $12.50 billion and a price-to-earnings ratio of -7.55. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $71.48. The business has a 50 day moving average of $23.47 and a two-hundred day moving average of $22.80.

Figma (NYSE:FIG) last announced its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.30. The business had revenue of $370.08 million during the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. As a group, research analysts predict that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Institutional Trading of Figma

A number of institutional investors and hedge funds have recently modified their holdings of FIG. Greylock XIV GP LLC bought a new stake in Figma during the second quarter worth $1,056,824,403. SC US Ttgp LTD. boosted its holdings in shares of Figma by 5.8% in the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after buying an additional 1,466,851 shares during the last quarter. a16z Capital Management L.L.C. bought a new position in Figma during the third quarter valued at about $842,687,000. JPMorgan Chase & Co. grew its position in Figma by 119.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock valued at $248,284,000 after buying an additional 3,615,198 shares during the period. Finally, Viking Global Investors LP purchased a new stake in Figma during the fourth quarter worth about $214,967,000.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FIG shares. Weiss Ratings upgraded shares of Figma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Morgan Stanley set a $33.00 price target on Figma in a report on Thursday, August 6th. Bank of America lifted their price target on shares of Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wells Fargo & Company cut their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.56.

Figma Company Profile

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.