Figma (NYSE:FIG) CAO Tyler Herb Sells 1,850 Shares

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 1,850 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.40, for a total value of $48,840.00. Following the sale, the chief accounting officer directly owned 263,435 shares in the company, valued at approximately $6,954,684. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, May 18th, Tyler Herb sold 669 shares of Figma stock. The shares were sold at an average price of $23.79, for a total value of $15,915.51.

Figma Trading Down 6.3%

FIG stock opened at $22.76 on Thursday. The firm has a market cap of $10.14 billion and a P/E ratio of -6.64. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92. The stock’s 50 day simple moving average is $20.66 and its 200 day simple moving average is $27.70.

Figma (NYSE:FIG) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.Figma’s quarterly revenue was up 46.1% on a year-over-year basis. On average, research analysts forecast that Figma, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in shares of Figma by 3,890.0% in the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after purchasing an additional 1,167 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Figma in the third quarter worth $26,000. DV Equities LLC bought a new position in shares of Figma in the fourth quarter worth $26,000. Concord Wealth Partners grew its stake in shares of Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after purchasing an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after purchasing an additional 690 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on FIG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. JPMorgan Chase & Co. dropped their target price on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Wells Fargo & Company dropped their target price on Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Oppenheimer began coverage on Figma in a research report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.63.

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.