Figma (NYSE:FIG) CAO Sells 1,536 Shares

Key Points

• Figma CAO Tyler Herb sold 1,536 shares at an average price of $26, generating $39,936. The Rule 10b5-1 sale was intended to cover tax withholding tied to vested equity awards, leaving him with 257,189 shares.
• Figma shares rose $2.20 to $27.12 in Tuesday trading, with volume above its average. The stock has traded between $16.60 and $94.00 over the past year.
• Figma recently exceeded quarterly earnings expectations, reporting $0.10 per share versus a consensus loss estimate of $0.17, while revenue increased 46.1% year over year. Analysts maintain a consensus Hold rating with an average price target of $32.56.

Figma, Inc. (NYSE:FIG - Get Free Report) CAO Tyler Herb sold 1,536 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.00, for a total value of $39,936.00. Following the transaction, the chief accounting officer directly owned 257,189 shares in the company, valued at approximately $6,686,914. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, June 1st, Tyler Herb sold 1,850 shares of Figma stock. The stock was sold at an average price of $26.40, for a total value of $48,840.00.
• On Monday, May 18th, Tyler Herb sold 669 shares of Figma stock. The shares were sold at an average price of $23.79, for a total value of $15,915.51.

Figma Stock Performance

FIG traded up $2.20 during trading hours on Tuesday, hitting $27.12. 26,764,674 shares of the stock were exchanged, compared to its average volume of 22,974,770. The stock has a 50-day simple moving average of $21.61 and a 200-day simple moving average of $22.83. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $94.00.

Figma (NYSE:FIG - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.27. The firm had revenue of $333.44 million during the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company's revenue for the quarter was up 46.1% compared to the same quarter last year. Equities research analysts forecast that Figma, Inc. will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fluent Financial LLC acquired a new position in shares of Figma during the second quarter worth approximately $765,000. Valeo Financial Advisors LLC acquired a new stake in Figma in the 2nd quarter valued at approximately $203,000. Parallel Advisors LLC raised its stake in Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company's stock valued at $25,000 after acquiring an additional 1,167 shares in the last quarter. J. Derek Lewis & Associates Inc. raised its stake in Figma by 58.6% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company's stock valued at $429,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Figma by 428.1% during the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company's stock worth $88,377,000 after acquiring an additional 3,388,902 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FIG. Bank of America started coverage on shares of Figma in a research note on Tuesday, July 7th. They set a "buy" rating and a $30.00 price objective on the stock. Piper Sandler restated an "overweight" rating and issued a $30.00 target price on shares of Figma in a research note on Thursday, June 25th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Figma in a research report on Tuesday, May 19th. JPMorgan Chase & Co. cut their price target on Figma from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, May 15th. Finally, Royal Bank Of Canada reduced their price objective on Figma from $28.00 to $22.00 and set a "sector perform" rating for the company in a research report on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.

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