Insider Selling: Figma (NYSE:FIG) CFO Sells $403,900.42 in Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 16,247 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $24.86, for a total transaction of $403,900.42. Following the completion of the sale, the chief financial officer owned 1,550,298 shares in the company, valued at approximately $38,540,408.28. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Praveer Melwani also recently made the following trade(s):

• On Friday, January 2nd, Praveer Melwani sold 11,880 shares of Figma stock. The shares were sold at an average price of $37.21, for a total transaction of $442,054.80.
• On Monday, December 22nd, Praveer Melwani sold 11,137 shares of Figma stock. The stock was sold at an average price of $40.01, for a total value of $445,591.37.
• On Monday, December 22nd, Praveer Melwani sold 12,714 shares of Figma stock. The shares were sold at an average price of $40.01, for a total value of $508,687.14.
• On Monday, December 1st, Praveer Melwani sold 15,781 shares of Figma stock. The shares were sold at an average price of $35.45, for a total value of $559,436.45.
• On Wednesday, November 12th, Praveer Melwani sold 10,000 shares of Figma stock. The stock was sold at an average price of $45.00, for a total value of $450,000.00.
• On Monday, November 10th, Praveer Melwani sold 13,000 shares of Figma stock. The stock was sold at an average price of $43.46, for a total value of $564,980.00.
• On Monday, November 10th, Praveer Melwani sold 14,532 shares of Figma stock. The shares were sold at an average price of $43.47, for a total value of $631,706.04.

Figma Price Performance

Shares of FIG traded up $1.08 during trading hours on Wednesday, hitting $22.47. The company had a trading volume of 24,151,286 shares, compared to its average volume of 9,452,685. The company’s fifty day moving average is $34.32. Figma, Inc. has a 52-week low of $19.85 and a 52-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 for the quarter, beating analysts’ consensus estimates of ($1.56) by $1.66. The business had revenue of $274.17 million during the quarter. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Figma from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group began coverage on Figma in a research report on Monday, January 12th. They set a “neutral” rating and a $40.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Barclays upgraded shares of Figma to a “neutral” rating in a research note on Thursday, January 8th. Finally, Stifel Nicolaus initiated coverage on shares of Figma in a report on Wednesday, January 7th. They set a “hold” rating and a $40.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.75.

Institutional Investors Weigh In On Figma

A number of large investors have recently made changes to their positions in FIG. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Figma during the 3rd quarter valued at about $26,000. NewEdge Advisors LLC bought a new stake in Figma during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Figma during the third quarter valued at approximately $27,000. Sunbelt Securities Inc. bought a new position in Figma in the third quarter worth approximately $30,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Figma by 50.0% during the 4th quarter. North Star Investment Management Corp. now owns 1,800 shares of the company’s stock worth $67,000 after acquiring an additional 600 shares during the last quarter.

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.