Insider Selling: Figma (NYSE:FIG) CFO Sells $1,912,087.98 in Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 83,974 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the completion of the transaction, the chief financial officer directly owned 1,749,024 shares in the company, valued at $39,825,276.48. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Trading Down 0.1%

Figma stock opened at $21.73 on Monday. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92. The firm has a market capitalization of $9.68 billion and a price-to-earnings ratio of -6.33. The firm’s fifty day moving average price is $20.69 and its two-hundred day moving average price is $27.48.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on FIG shares. The Goldman Sachs Group set a $35.00 target price on shares of Figma in a report on Thursday, February 19th. Stifel Nicolaus set a $25.00 target price on Figma in a report on Friday, May 15th. Morgan Stanley dropped their price target on Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Royal Bank Of Canada cut their price objective on Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. Finally, Wells Fargo & Company reduced their price objective on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after acquiring an additional 1,167 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Figma in the third quarter worth about $26,000. DV Equities LLC bought a new stake in shares of Figma in the fourth quarter valued at approximately $26,000. Concord Wealth Partners raised its position in shares of Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after purchasing an additional 680 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after buying an additional 690 shares in the last quarter.

About Figma

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.