Insider Selling: Figma (NYSE:FIG) General Counsel Sells 5,666 Shares of Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 5,666 shares of Figma stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $32.02, for a total value of $181,425.32. Following the transaction, the general counsel owned 863,387 shares in the company, valued at $27,645,651.74. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, January 5th, Brendan Mulligan sold 5,666 shares of Figma stock. The stock was sold at an average price of $37.25, for a total transaction of $211,058.50.
• On Friday, January 2nd, Brendan Mulligan sold 6,793 shares of Figma stock. The shares were sold at an average price of $37.21, for a total transaction of $252,767.53.
• On Monday, December 15th, Brendan Mulligan sold 4,392 shares of Figma stock. The stock was sold at an average price of $34.65, for a total value of $152,182.80.
• On Wednesday, December 3rd, Brendan Mulligan sold 4,392 shares of Figma stock. The shares were sold at an average price of $36.68, for a total transaction of $161,098.56.
• On Monday, December 1st, Brendan Mulligan sold 9,343 shares of Figma stock. The shares were sold at an average price of $35.45, for a total value of $331,209.35.
• On Monday, November 17th, Brendan Mulligan sold 4,299 shares of Figma stock. The shares were 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 transaction of $450,000.00.
• On Monday, November 10th, Brendan Mulligan sold 80,934 shares of Figma stock. The shares were sold at an average price of $43.47, for a total transaction of $3,518,200.98.
• On Monday, November 3rd, Brendan Mulligan sold 9,526 shares of Figma stock. The shares were sold at an average price of $48.17, for a total transaction of $458,867.42.

Figma Stock Down 6.2%

NYSE FIG traded down $1.84 during trading on Tuesday, reaching $27.73. 14,509,472 shares of the company’s stock were exchanged, compared to its average volume of 7,858,308. The firm’s 50 day simple moving average is $36.96. The firm has a market capitalization of $11.53 billion and a PE ratio of -10.35. Figma, Inc. has a fifty-two week low of $27.48 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. The company had revenue of $274.17 million during the quarter. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FIG shares. Stifel Nicolaus initiated coverage on Figma in a report on Wednesday, January 7th. They set a “hold” rating and a $40.00 price objective for the company. Barclays upgraded Figma to a “neutral” rating in a research note on Thursday, January 8th. The Goldman Sachs Group assumed coverage on shares of Figma in a research report on Monday, January 12th. They issued a “neutral” rating and a $40.00 target price for the company. Piper Sandler lowered their price target on shares of Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada decreased their target price on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday, January 5th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.13.

Institutional Trading of Figma

A number of institutional investors and hedge funds have recently made changes to their positions in FIG. SC US Ttgp LTD. acquired a new position in Figma during the third quarter valued at approximately $1,310,305,000. ICONIQ Capital LLC bought a new position in Figma in the third quarter valued at about $1,108,879,000. a16z Capital Management L.L.C. acquired a new position in Figma during the third quarter worth about $842,687,000. Durable Capital Partners LP acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $278,510,000. Finally, Thrive Capital Management LLC acquired a new stake in shares of Figma in the 3rd quarter valued at approximately $228,034,000.

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.