Figma (NYSE:FIG) Stock: Insider Ventures Vi (Jersey) Lp Index Sells 12,475 Shares

Key Points

• Major shareholder Ventures VI (Jersey) LP Index sold 12,475 Figma shares at an average $18.97, for about $236,651. It retained 751,075 shares after reducing its position by 1.63%.
• Figma reported quarterly revenue of $391.4 million, up 42.8% year over year, and EPS of $0.10—beating the consensus estimate of a $0.22 loss.
• 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) major shareholder Ventures Vi (Jersey) Lp Index 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 sale, the insider directly owned 751,075 shares in the company, valued at $14,247,892.75. This trade represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Figma Stock Up 2.6%

Figma stock traded up $0.49 during trading hours on Friday, reaching $19.41. 6,256,293 shares of the company's stock were exchanged, compared to its average volume of 16,619,047. The firm's 50 day simple moving average is $21.95 and its 200 day simple moving average is $22.77. Figma, Inc. has a twelve month low of $16.60 and a twelve month 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 posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.32. The firm had revenue of $391.42 million during the quarter. Figma had a negative return on equity of 32.80% and a negative net margin of 40.21%. The business's revenue was up 42.8% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. Analysts anticipate that Figma, Inc. will post -0.75 EPS for the current year.

Hedge Funds Weigh In On Figma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew 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 buying an additional 1,167 shares during the period. Three Bridge Wealth Advisors LLC acquired a new position in Figma during the 3rd quarter worth approximately $42,000. Sunbelt Securities Inc. boosted its holdings in Figma by 287.0% in the first quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company's stock worth $47,000 after acquiring an additional 1,650 shares in the last quarter. Atlantic Private Wealth LLC bought a new position in Figma in the first quarter worth approximately $74,000. Finally, IFP Advisors Inc boosted its holdings in Figma by 176.1% in the second quarter. IFP Advisors Inc now owns 4,327 shares of the company's stock worth $78,000 after acquiring an additional 2,760 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently commented on FIG. Wells Fargo & Company decreased their target price on Figma from $34.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Telsey Advisory Group initiated coverage on Figma in a research note on Monday, November 2nd. They issued a "hold" rating on the stock. Oppenheimer restated a "market perform" rating on shares of Figma in a report on Thursday, November 5th. KeyCorp started coverage on shares of Figma in a research report on Monday, September 14th. They set a "sector weight" rating for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Figma from $25.00 to $22.00 and set a "hold" rating for the company in a research note on Wednesday, October 14th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.80.

Figma Company Profile

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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