Figma (NYSE:FIG) CAO Sells $30,657.16 in Stock

Key Points

• Figma CAO Tyler Herb sold 1,418 shares at an average price of $21.62, generating $30,657.16. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and Herb retained 246,130 shares.
• Figma shares recently traded near $21.64, well below their 12-month high of $71.48. The company reported quarterly revenue of $370.08 million, up 48.2% year over year, and exceeded analysts’ EPS expectations.
• Analysts maintain a consensus “Hold” rating, with a consensus price target of $32.56; four analysts rate the stock Buy, nine Hold, and one Sell.

Figma, Inc. (NYSE:FIG - Get Free Report) CAO Tyler Herb sold 1,418 shares of the firm's stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $21.62, for a total transaction of $30,657.16. Following the sale, the chief accounting officer owned 246,130 shares in the company, valued at $5,321,330.60. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Tyler Herb sold 1,416 shares of Figma stock. The stock was sold at an average price of $26.29, for a total transaction of $37,226.64.
• On Thursday, August 27th, Tyler Herb sold 2,000 shares of Figma stock. The shares were sold at an average price of $30.00, for a total value of $60,000.00.
• On Friday, August 21st, Tyler Herb sold 1,840 shares of Figma stock. The stock was sold at an average price of $27.14, for a total value of $49,937.60.
• On Tuesday, August 4th, Tyler Herb sold 709 shares of Figma stock. The stock was sold at an average price of $26.00, for a total value of $18,434.00.
• On Monday, August 3rd, Tyler Herb sold 1,536 shares of Figma stock. The shares were sold at an average price of $26.00, for a total value of $39,936.00.

Figma Stock Performance

NYSE FIG traded down $0.29 during trading on Wednesday, hitting $21.64. The stock had a trading volume of 5,695,976 shares, compared to its average volume of 17,368,371. Figma, Inc. has a 12 month low of $16.60 and a 12 month high of $71.48. The company's 50-day moving average price is $24.34 and its two-hundred day moving average price is $22.06. The company has a market capitalization of $9.85 billion, a PE ratio of -5.95 and a beta of 1.32.

Figma (NYSE:FIG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million for the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. Figma's revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. As a group, equities analysts anticipate that Figma, Inc. will post -0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Figma

Several institutional investors have recently made changes to their positions in FIG. Parallel Advisors LLC boosted its stake in shares of Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company's stock valued at $25,000 after purchasing an additional 1,167 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Figma by 287.0% during the first quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company's stock worth $47,000 after buying an additional 1,650 shares during the last quarter. Atlantic Private Wealth LLC acquired a new position in Figma in the first quarter valued at $74,000. North Star Investment Management Corp. boosted its position in Figma by 138.9% during the first quarter. North Star Investment Management Corp. now owns 4,300 shares of the company's stock valued at $91,000 after acquiring an additional 2,500 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in Figma by 176.1% during the 2nd quarter. IFP Advisors Inc now owns 4,327 shares of the company's stock worth $78,000 after acquiring an additional 2,760 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FIG. KeyCorp started coverage on Figma in a report on Monday, September 14th. They issued a "sector weight" rating for the company. Citigroup increased their price target on Figma from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Figma in a research report on Thursday, August 6th. Morgan Stanley set a $33.00 price objective on Figma in a research note on Thursday, August 6th. Finally, Piper Sandler reissued an "overweight" rating and issued a $30.00 price objective on shares of Figma in a report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $32.56.

About Figma

Figma, Inc is a collaborative software company that provides browser-based tools for designing, prototyping and developing digital products. Its platform enables product designers, developers, researchers, marketers and other stakeholders to work together on user interfaces and digital experiences in real time.

The company's product portfolio includes Figma Design for interface design and prototyping, FigJam for collaborative brainstorming and whiteboarding, and Dev Mode, which helps developers inspect designs and translate them into working products.

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