Daniel Rimer Sells 12,475 Shares of Figma (NYSE:FIG) Stock

Key Points

• Figma director Daniel Rimer sold 12,475 shares at an average price of $25.39, totaling $316,740.25. Following the transaction, Rimer retained 786,700 shares valued at approximately $19.97 million.
• Figma shares fell 4.9% to $23.66, while the company reported quarterly revenue of $370.08 million, up 48.2% year over year, and earnings per share of $0.08 versus analyst expectations for a loss of $0.22.
• Analysts maintain a consensus “Hold” rating, with a consensus price target of $32.22; five analysts rate the stock a Buy, 10 a Hold and one a Sell.

Figma, Inc. (NYSE:FIG - Get Free Report) Director Daniel Rimer sold 12,475 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.39, for a total transaction of $316,740.25. Following the sale, the director owned 786,700 shares of the company's stock, valued at approximately $19,974,313. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Figma Stock Down 4.9%

Figma stock traded down $1.21 during trading on Wednesday, hitting $23.66. The stock had a trading volume of 14,005,565 shares, compared to its average volume of 18,366,352. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $91.00. The stock's 50 day moving average is $21.68 and its two-hundred day moving average is $22.69. The stock has a market cap of $10.77 billion and a price-to-earnings ratio of -6.50.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.30. The business had revenue of $370.08 million during the quarter. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.Figma's revenue for the quarter was up 48.2% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. As a group, equities research analysts anticipate that Figma, Inc. will post -0.79 EPS for the current fiscal year.

Institutional Trading of Figma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Greylock XIV GP LLC purchased a new position in Figma during the 2nd quarter valued at about $1,056,824,403,000. a16z Capital Management L.L.C. bought a new stake in shares of Figma during the third quarter valued at about $842,687,000. Viking Global Investors LP purchased a new stake in shares of Figma in the fourth quarter worth about $214,967,000. Durable Capital Partners LP purchased a new stake in shares of Figma in the third quarter worth about $278,510,000. Finally, Thrive Capital Management LLC bought a new position in shares of Figma in the third quarter valued at approximately $228,034,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FIG shares. Oppenheimer reissued a "market perform" rating on shares of Figma in a report on Thursday, June 25th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Figma in a report on Tuesday, May 19th. JPMorgan Chase & Co. cut their target price on shares of Figma from $45.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, May 15th. Wells Fargo & Company reduced their target price on shares of Figma from $42.00 to $36.00 and set an "overweight" rating for the company in a research note on Friday, June 26th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Figma in a research report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.22.

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.

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