Figma (NYSE:FIG) CAO Tyler Herb Sells 2,000 Shares of Stock

Figma, Inc. (NYSE:FIG) CAO Tyler Herb sold 2,000 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the transaction, the chief accounting officer directly owned 252,640 shares of the company’s stock, valued at approximately $7,579,200. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 21st, Tyler Herb sold 1,840 shares of Figma stock. The shares were sold at an average price of $27.14, for a total value of $49,937.60.
• On Tuesday, August 4th, Tyler Herb sold 709 shares of Figma stock. The stock was sold at an average price of $26.00, for a total transaction of $18,434.00.
• On Monday, August 3rd, Tyler Herb sold 1,536 shares of Figma stock. The shares were sold at an average price of $26.00, for a total transaction of $39,936.00.

Figma Stock Performance

NYSE:FIG opened at $27.47 on Tuesday. The company’s 50-day simple moving average is $23.64 and its 200-day simple moving average is $22.83. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $71.48. The stock has a market capitalization of $12.50 billion and a P/E ratio of -7.55.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million during the quarter. During the same quarter last year, the firm earned $0.09 EPS. The company’s revenue was up 48.2% compared to the same quarter last year. On average, research analysts forecast that Figma, Inc. will post -0.75 EPS for the current year.

Institutional Trading of Figma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIG. NewEdge Advisors LLC acquired a new position in shares of Figma in the third quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Figma in the 3rd quarter valued at about $27,000. Sunbelt Securities Inc. purchased a new stake in Figma in the 3rd quarter worth approximately $30,000. US Bancorp DE purchased a new stake in Figma during the third quarter worth $31,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Figma during the third quarter valued at $33,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FIG shares. Stifel Nicolaus set a $25.00 price objective on Figma in a research report on Friday, May 15th. Wells Fargo & Company lowered their price target on Figma from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Royal Bank Of Canada restated a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Piper Sandler restated an “overweight” rating and set a $30.00 price objective on shares of Figma in a report on Thursday, June 25th. Finally, Citigroup lifted their target price on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Figma currently has a consensus rating of “Hold” and a consensus target price of $32.56.

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.