Figma (NYSE:FIG) CTO Kris Rasmussen Sells 261,301 Shares of Stock

Key Points

• Figma CTO Kris Rasmussen sold 261,301 shares at an average price of $25.07, generating approximately $6.55 million. The Rule 10b5-1 transaction reduced his holdings by 2.68%, leaving him with 9.49 million shares.
• Figma shares recently traded at $24.36, within a 52-week range of $16.60 to $142.92. The stock’s average analyst rating is “Hold”, with a consensus price target of $32.56.
• Figma reported quarterly revenue of $333.44 million, up 46.1% year over year, and adjusted earnings of $0.10 per share versus analysts’ expected loss of $0.17. Despite the earnings beat, the company posted a negative net margin and analysts expect a full-year loss.

Figma, Inc. (NYSE:FIG - Get Free Report) CTO Kris Rasmussen sold 261,301 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $25.07, for a total value of $6,550,816.07. Following the transaction, the chief technology officer owned 9,492,946 shares in the company, valued at $237,988,156.22. This trade represents a 2.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Kris Rasmussen sold 327,046 shares of Figma stock. The stock was sold at an average price of $25.07, for a total transaction of $8,199,043.22.

Figma Price Performance

Shares of NYSE FIG traded up $0.60 during mid-day trading on Friday, reaching $24.36. The company's stock had a trading volume of 24,722,495 shares, compared to its average volume of 20,634,288. Figma, Inc. has a 1-year low of $16.60 and a 1-year high of $142.92. The stock has a 50-day moving average of $21.46 and a two-hundred day moving average of $23.02.

Figma (NYSE:FIG - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company had revenue of $333.44 million during the quarter. The company's revenue for the quarter was up 46.1% on a year-over-year basis. On average, equities analysts predict that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Figma

Institutional investors and hedge funds have recently made changes to their positions in the stock. SC US Ttgp LTD. lifted its holdings in shares of Figma by 5.8% in the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company's stock worth $565,034,000 after acquiring an additional 1,466,851 shares during the last quarter. a16z Capital Management L.L.C. purchased a new stake in Figma in the third quarter valued at approximately $842,687,000. JPMorgan Chase & Co. raised its position in Figma by 119.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company's stock valued at $248,284,000 after purchasing an additional 3,615,198 shares during the period. Baillie Gifford & Co. lifted its stake in Figma by 93.8% during the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company's stock worth $215,386,000 after purchasing an additional 2,789,986 shares in the last quarter. Finally, Viking Global Investors LP acquired a new position in Figma during the fourth quarter worth $214,967,000.

Analyst Ratings Changes

A number of equities analysts recently commented on FIG shares. Morgan Stanley reduced their price objective on Figma from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Friday, May 15th. Stifel Nicolaus set a $25.00 target price on Figma in a research note on Friday, May 15th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Figma in a research note on Tuesday, May 19th. Wells Fargo & Company lowered their price target on shares of Figma from $42.00 to $36.00 and set an "overweight" rating on the stock in a research report on Friday, June 26th. Finally, Citigroup dropped 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. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $32.56.

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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