Insider Selling: Figma (NYSE:FIG) Director Sells 20,266 Shares of Company Stock

Key Points

• Figma Director Lynn Vojvodich Radakovich sold 20,266 shares at an average price of $22.63, generating approximately $458,620. The sale reduced her holdings by 19.29% to 84,809 shares and was executed under a pre-arranged Rule 10b5-1 trading plan.
• Figma shares recently traded at $21.53, with a market capitalization of approximately $9.8 billion. The stock has ranged from $16.60 to $58.58 over the past year.
• Figma exceeded quarterly earnings expectations, reporting $0.08 in EPS versus the consensus estimate of a $0.22 loss, while revenue rose 48.2% year over year to $370.08 million. Analysts maintain a consensus “Hold” rating with an average price target of $31.56.

Figma, Inc. (NYSE:FIG - Get Free Report) Director Lynn Vojvodich Radakovich sold 20,266 shares of the firm's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $22.63, for a total value of $458,619.58. Following the transaction, the director owned 84,809 shares of the company's stock, valued at $1,919,227.67. This represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Price Performance

Shares of NYSE:FIG traded up $0.04 during trading on Monday, reaching $21.53. 6,181,898 shares of the company were exchanged, compared to its average volume of 17,085,676. The firm has a market capitalization of $9.80 billion, a PE ratio of -5.91 and a beta of 1.32. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $58.58. The business's fifty day simple moving average is $23.86 and its 200-day simple moving average is $22.05.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.30. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm had revenue of $370.08 million during the quarter. During the same period in the previous year, the business earned $0.09 earnings per share. The business's revenue for the quarter was up 48.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Figma, Inc. will post -0.75 EPS for the current fiscal year.

Institutional Trading of Figma

A number of institutional investors have recently made changes to their positions in FIG. Greylock XIV GP LLC bought a new position in Figma during the second quarter worth $1,056,824,403. SC US Ttgp LTD. boosted its stake in Figma by 5.8% during the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company's stock valued at $565,034,000 after purchasing an additional 1,466,851 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Figma by 428.1% in 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Figma during the 1st quarter worth approximately $36,600,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Figma by 613.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,467,887 shares of the company's stock valued at $31,031,000 after purchasing an additional 1,262,258 shares during the last quarter.

Wall Street Analysts Forecast Growth

FIG has been the subject of a number of research reports. Bank of America boosted their price objective on Figma from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Stifel Nicolaus reduced their price target on Figma from $25.00 to $22.00 and set a "hold" rating on the stock in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Figma from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, October 6th. Wells Fargo & Company dropped their price objective on Figma from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, October 12th. Finally, KeyCorp started coverage on Figma in a report on Monday, September 14th. They issued a "sector weight" rating on the stock. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.56.

Figma Company Profile

Figma, Inc NYSE: FIG develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.

The company's product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.

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