Figma (NYSE:FIG) Director Daniel Rimer Sells 12,475 Shares of Stock

Key Points

• Figma director Daniel Rimer sold 12,475 shares at an average of $18.97, for about $236,651. He retained 751,075 shares after the sale.
• Figma reported quarterly revenue of $391.4 million, up 42.8% year over year, and EPS of $0.10—$0.32 above analysts’ consensus estimate.
• Shares rose 2.6% to $19.41 in Friday trading. Analysts’ consensus rating was “Hold,” with an average price target of $28.80.

Figma, Inc. (NYSE:FIG - Get Free Report) Director Daniel Rimer sold 12,475 shares of the company's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $18.97, for a total transaction of $236,650.75. Following the transaction, the director owned 751,075 shares of the company's stock, valued at approximately $14,247,892.75. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Figma Trading Up 2.6%

FIG traded up $0.49 on Friday, hitting $19.41. 6,256,903 shares of the stock traded hands, compared to its average volume of 16,619,047. The business has a fifty day moving average price of $21.95 and a two-hundred day moving average price of $22.77. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $41.24. The firm has a market capitalization of $8.89 billion, a PE ratio of -18.14 and a beta of 1.17.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.32. The business had revenue of $391.42 million for the quarter. Figma had a negative return on equity of 32.80% and a negative net margin of 40.21%. Figma's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. On average, equities research analysts forecast that Figma, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FIG has been the subject of a number of recent analyst reports. Telsey Advisory Group initiated coverage on Figma in a report on Monday, November 2nd. They issued a "hold" rating for the company. Stifel Nicolaus decreased their price objective on shares of Figma from $25.00 to $22.00 and set a "hold" rating for the company in a report on Wednesday, October 14th. Morgan Stanley set a $33.00 target price on shares of Figma in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Figma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday. Finally, Rothschild & Co Redburn initiated coverage on shares of Figma in a report on Monday, November 2nd. They issued a "neutral" rating and a $23.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Figma currently has an average rating of "Hold" and an average price target of $28.80.

Hedge Funds Weigh In On Figma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIG. Greylock XIV GP LLC acquired a new stake in shares of Figma in the 2nd quarter valued at about $1,056,824,403. 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 last quarter. Pictet Asset Management Holding SA boosted its position in Figma by 26,445.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 3,072,370 shares of the company's stock worth $64,581,000 after acquiring an additional 3,060,796 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Figma during the 1st quarter worth approximately $36,600,000. Finally, SC US Ttgp LTD. grew its stake in shares of Figma by 5.8% during 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 in the last quarter.

About Figma

Figma, Inc. develops browser-based software for designing and building digital products. Its platform supports collaborative interface design, interactive prototyping and workflows that help teams plan, create and refine websites, apps and other digital experiences. Figma's products include Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and access implementation details. Figma Slides provides tools for creating and presenting slide decks.

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