Brendan Mulligan Sells 5,666 Shares of Figma (NYSE:FIG) Stock

Key Points

• Brendan Mulligan, Figma’s general counsel, sold 5,666 shares on Jan. 15 at an average of $32.02 (~$181K), leaving him with 863,387 shares after a string of prior insider sales including an 80,934‑share sale on Nov. 10.
• FIG shares fell 6.2% to $27.73 on heavy volume and trade near their 52‑week low, with a market cap of about $11.5B and a negative P/E; analysts’ consensus is a Hold with a $52.13 target after several price cuts.
• Figma beat EPS expectations and posted 38% year‑over‑year revenue growth, but remains unprofitable with a roughly 99% negative net margin and negative return on equity.

Figma, Inc. (NYSE:FIG - Get Free Report) General Counsel Brendan Mulligan sold 5,666 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $32.02, for a total transaction of $181,425.32. Following the completion of the sale, the general counsel directly owned 863,387 shares of the company's stock, valued at approximately $27,645,651.74. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 5th, Brendan Mulligan sold 5,666 shares of Figma stock. The stock was sold at an average price of $37.25, for a total value of $211,058.50.
• On Friday, January 2nd, Brendan Mulligan sold 6,793 shares of Figma stock. The shares were sold at an average price of $37.21, for a total value of $252,767.53.
• On Monday, December 15th, Brendan Mulligan sold 4,392 shares of Figma stock. The stock was sold at an average price of $34.65, for a total value of $152,182.80.
• On Wednesday, December 3rd, Brendan Mulligan sold 4,392 shares of Figma stock. The stock was sold at an average price of $36.68, for a total transaction of $161,098.56.
• On Monday, December 1st, Brendan Mulligan sold 9,343 shares of Figma stock. The stock was sold at an average price of $35.45, for a total transaction of $331,209.35.
• On Monday, November 17th, Brendan Mulligan sold 4,299 shares of Figma stock. The shares were sold at an average price of $37.29, for a total transaction of $160,309.71.
• On Wednesday, November 12th, Brendan Mulligan sold 10,000 shares of Figma stock. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00.
• On Monday, November 10th, Brendan Mulligan sold 80,934 shares of Figma stock. The shares were sold at an average price of $43.47, for a total value of $3,518,200.98.
• On Monday, November 3rd, Brendan Mulligan sold 9,526 shares of Figma stock. The stock was sold at an average price of $48.17, for a total value of $458,867.42.

Figma Trading Down 6.2%

FIG stock traded down $1.84 during trading on Tuesday, hitting $27.73. The company had a trading volume of 14,509,472 shares, compared to its average volume of 7,858,308. The firm's fifty day moving average is $36.96. Figma, Inc. has a fifty-two week low of $27.48 and a fifty-two week high of $142.92. The stock has a market capitalization of $11.53 billion and a P/E ratio of -10.35.

Figma (NYSE:FIG - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The company had revenue of $274.17 million for the quarter. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm's revenue for the quarter was up 38.0% on a year-over-year basis.

Institutional Investors Weigh In On Figma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIG. SC US Ttgp LTD. bought a new position in Figma during the third quarter worth about $1,310,305,000. ICONIQ Capital LLC acquired a new position in Figma during the third quarter valued at approximately $1,108,879,000. a16z Capital Management L.L.C. bought a new stake in Figma in the third quarter valued at approximately $842,687,000. Durable Capital Partners LP acquired a new stake in Figma in the third quarter worth $278,510,000. Finally, Thrive Capital Management LLC bought a new position in shares of Figma during the third quarter worth $228,034,000.

Analyst Ratings Changes

FIG has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Figma from $85.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their price objective on Figma from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, November 6th. The Goldman Sachs Group assumed coverage on Figma in a report on Monday, January 12th. They set a "neutral" rating and a $40.00 target price on the stock. Royal Bank Of Canada reduced their price target on shares of Figma from $65.00 to $38.00 and set a "sector perform" rating on the stock in a research report on Monday, January 5th. Finally, Barclays raised shares of Figma to a "neutral" rating in a report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $52.13.

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.

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