Figma (NYSE:FIG) CTO Kris Rasmussen Sells 205,438 Shares

Key Points

• CTO Kris Rasmussen sold 205,438 shares of Figma on Feb. 10 at an average price of $25.01 for about $5.14 million, leaving him with 10,418,905 shares (a 1.93% reduction, valued at ~$260.6M).
• The Feb. 10 sale is part of a recent pattern of insider selling — including large disposals on Feb. 2, Jan. 5 and Dec. 3 — representing multiple transactions worth millions of dollars.
• Figma shares recently traded around $22.05; the company has a ~$9.17 billion market cap and a consensus analyst rating of "Hold" with an average price target of $47.75 after several downward revisions.

Figma, Inc. (NYSE:FIG - Get Free Report) CTO Kris Rasmussen sold 205,438 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $25.01, for a total transaction of $5,138,004.38. Following the transaction, the chief technology officer directly owned 10,418,905 shares of the company's stock, valued at $260,576,814.05. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kris Rasmussen also recently made the following trade(s):

• On Monday, February 2nd, Kris Rasmussen sold 74,305 shares of Figma stock. The stock was sold at an average price of $24.86, for a total value of $1,847,222.30.
• On Monday, January 5th, Kris Rasmussen sold 181,345 shares of Figma stock. The shares were sold at an average price of $37.25, for a total value of $6,755,101.25.
• On Friday, January 2nd, Kris Rasmussen sold 14,252 shares of Figma stock. The shares were sold at an average price of $37.21, for a total transaction of $530,316.92.
• On Wednesday, December 3rd, Kris Rasmussen sold 177,387 shares of Figma stock. The stock was sold at an average price of $36.71, for a total transaction of $6,511,876.77.
• On Monday, December 1st, Kris Rasmussen sold 18,211 shares of Figma stock. The shares were sold at an average price of $35.45, for a total transaction of $645,579.95.

Figma Stock Performance

Shares of NYSE:FIG traded down $0.52 during trading on Thursday, hitting $22.05. 9,593,295 shares of the stock were exchanged, compared to its average volume of 11,234,762. The company has a market capitalization of $9.17 billion and a P/E ratio of -8.23. The company has a fifty day simple moving average of $32.94. Figma, Inc. has a 12-month low of $19.85 and a 12-month high of $142.92.

Institutional Investors Weigh In On Figma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in Figma during the 3rd quarter worth $26,000. NewEdge Advisors LLC acquired a new stake in shares of Figma in the third quarter valued at about $26,000. Concord Wealth Partners raised its holdings in shares of Figma by 1,446.8% during the 4th 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. Harbour Investments Inc. lifted its position in Figma by 1,568.2% during the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company's stock worth $27,000 after acquiring an additional 690 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Figma during the third quarter valued at approximately $27,000.

Analysts Set New Price Targets

FIG has been the subject of several research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Figma in a research note on Monday, December 29th. Royal Bank Of Canada cut their target price on shares of Figma from $65.00 to $38.00 and set a "sector perform" rating for the company in a research report on Monday, January 5th. Morgan Stanley reduced their price target on shares of Figma from $65.00 to $48.00 and set an "equal weight" rating on the stock in a report on Thursday, January 15th. Piper Sandler lowered their price target on shares of Figma from $70.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, February 2nd. Finally, Wall Street Zen upgraded Figma from a "sell" rating to a "hold" rating in a research report on Sunday. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $47.75.

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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