Figma (NYSE:FIG) General Counsel Brendan Mulligan Sells 18,213 Shares of Stock

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 18,213 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total value of $455,325.00. Following the completion of the sale, the general counsel directly owned 951,571 shares in the company, valued at $23,789,275. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Brendan Mulligan sold 18,741 shares of Figma stock. The stock was sold at an average price of $25.04, for a total value of $469,274.64.

Figma Price Performance

Shares of NYSE:FIG opened at $24.36 on Friday. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92. The business has a fifty day moving average price of $21.46 and a 200-day moving average price of $23.02. The company has a market capitalization of $10.86 billion and a PE ratio of -7.10.

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, topping the consensus estimate of ($0.17) by $0.27. The firm had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm’s revenue was up 46.1% on a year-over-year basis. On average, sell-side analysts anticipate that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Figma

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FIG shares. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Citigroup decreased their price objective on shares of Figma from $36.00 to $35.00 and set a “buy” rating for the company in a report on Friday, July 24th. Wells Fargo & Company lowered their price objective on Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Finally, Royal Bank Of Canada cut their target price on Figma from $28.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.