Brendan Mulligan Sells 9,343 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 9,343 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $35.45, for a total transaction of $331,209.35. Following the sale, the general counsel directly owned 890,296 shares in the company, valued at approximately $31,560,993.20. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 17th, Brendan Mulligan sold 4,299 shares of Figma stock. The stock was sold at an average price of $37.29, for a total value of $160,309.71.
• On Wednesday, November 12th, Brendan Mulligan sold 10,000 shares of Figma stock. The shares were sold at an average price of $45.00, for a total value of $450,000.00.
• On Monday, November 10th, Brendan Mulligan sold 80,934 shares of Figma stock. The stock was sold at an average price of $43.47, for a total value of $3,518,200.98.
• On Monday, November 3rd, Brendan Mulligan sold 9,526 shares of Figma stock. The stock was sold at an average price of $48.17, for a total value of $458,867.42.

Figma Stock Performance

Shares of FIG opened at $38.78 on Friday. The firm has a 50-day simple moving average of $48.16. Figma, Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($1.56) by $1.66. The company had revenue of $274.17 million for the quarter. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS.

Institutional Trading of Figma

A number of hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Figma during the 3rd quarter worth about $26,000. NewEdge Advisors LLC acquired a new stake in Figma during the third quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Figma during the third quarter worth about $27,000. Sunbelt Securities Inc. bought a new position in Figma during the third quarter valued at about $30,000. Finally, US Bancorp DE acquired a new position in Figma in the 3rd quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FIG. Royal Bank Of Canada dropped their price target on shares of Figma from $75.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 4th. Wolfe Research began coverage on Figma in a research report on Monday, August 25th. They issued a “peer perform” rating on the stock. Piper Sandler cut their price target on Figma from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company lowered their price target on Figma from $70.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Figma from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Figma presently has an average rating of “Hold” and an average target price of $62.86.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.