Figma (NYSE:FIG) CTO Sells $11,858,137.83 in Stock

Key Points

• CTO Kris Rasmussen sold 272,789 shares on Nov. 10 at an average of $43.47 for about $11.86 million and also sold additional blocks on Nov. 12 and Nov. 3, reducing his stake by 2.39% to 11,121,558 shares valued at roughly $483.45 million.
• Figma shares dropped 7.7% to $40.60 with heavy volume, trading well below the 50-day moving average of $53.76 and sitting near their 52-week low of $40.02 (52‑week high $142.92).
• The company reported an EPS beat and 38% year-over-year revenue growth, but analysts have trimmed price targets and the consensus rating is a Hold with a $62.86 average target.

Figma, Inc. (NYSE:FIG - Get Free Report) CTO Kris Rasmussen sold 272,789 shares of Figma stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $43.47, for a total value of $11,858,137.83. Following the completion of the sale, the chief technology officer directly owned 11,121,558 shares in the company, valued at approximately $483,454,126.26. The trade was a 2.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 12th, Kris Rasmussen sold 31,715 shares of Figma stock. The shares were sold at an average price of $45.03, for a total transaction of $1,428,126.45.
• On Monday, November 3rd, Kris Rasmussen sold 73,738 shares of Figma stock. The shares were sold at an average price of $48.17, for a total transaction of $3,551,959.46.

Figma Stock Down 7.7%

Shares of NYSE:FIG traded down $3.40 on Thursday, reaching $40.60. The company's stock had a trading volume of 10,410,183 shares, compared to its average volume of 9,761,726. The business has a 50-day moving average price of $53.76. Figma, Inc. has a 52-week low of $40.02 and a 52-week high of $142.92.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($1.56) by $1.66. The business had revenue of $274.17 million during the quarter. The company's revenue was up 38.0% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. Figma has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of Figma from $85.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Piper Sandler reduced their price objective on shares of Figma from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price objective on shares of Figma from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 6th. Morgan Stanley cut their target price on Figma from $80.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 4th. Finally, Wolfe Research started coverage on Figma in a research note on Monday, August 25th. They set a "peer perform" rating for the company. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.86.

Hedge Funds Weigh In On Figma

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. bought a new stake in Figma during the third quarter valued at about $154,242,000. SurgoCap Partners LP purchased a new stake in shares of Figma during the third quarter valued at about $120,210,000. Capital International Investors bought a new stake in shares of Figma in the 3rd quarter valued at about $61,918,000. Capital Research Global Investors purchased a new position in shares of Figma in the 3rd quarter worth approximately $41,840,000. Finally, Marshall Wace LLP bought a new position in shares of Figma during the 3rd quarter worth approximately $40,398,000.

Figma Company Profile

Figma is where teams come together to turn ideas into the world's best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They're looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.

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