Insider Selling: Figma (NYSE:FIG) CFO Sells 381,288 Shares

Key Points

• Figma CFO Praveer Melwani sold 381,288 shares for approximately $9.58 million at an average price of $25.13 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 18.1% to 1.73 million shares.
• Figma shares recently traded at $24.36, up 2.5%, while the company’s latest quarterly results exceeded expectations: earnings were $0.10 per share versus a consensus loss estimate of $0.17, and revenue rose 46.1% year over year to $333.44 million.
• Analysts maintain a consensus “Hold” rating, with an average price target of $32.56; ratings include five Buys, ten Holds and one Sell.

Figma, Inc. (NYSE:FIG - Get Free Report) CFO Praveer Melwani sold 381,288 shares of Figma stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $25.13, for a total value of $9,581,767.44. Following the transaction, the chief financial officer owned 1,725,716 shares in the company, valued at $43,367,243.08. This represents a 18.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Praveer Melwani also recently made the following trade(s):

• On Monday, July 6th, Praveer Melwani sold 30,460 shares of Figma stock. The shares were sold at an average price of $20.48, for a total value of $623,820.80.
• On Wednesday, June 3rd, Praveer Melwani sold 83,974 shares of Figma stock. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98.

Figma Trading Up 2.5%

NYSE FIG traded up $0.60 during trading on Friday, reaching $24.36. 24,722,495 shares of the company's stock were exchanged, compared to its average volume of 20,634,288. Figma, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $142.92. The company's fifty day simple moving average is $21.46 and its 200-day simple moving average is $23.02.

Figma (NYSE:FIG - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million for the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The company's revenue for the quarter was up 46.1% on a year-over-year basis. As a group, analysts predict that Figma, Inc. will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FIG has been the subject of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. JPMorgan Chase & Co. lowered their price target on shares of Figma from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, May 15th. Oppenheimer reiterated a "market perform" rating on shares of Figma in a report on Thursday, June 25th. Wells Fargo & Company reduced their price objective on Figma from $42.00 to $36.00 and set an "overweight" rating for the company in a research report on Friday, June 26th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Figma in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.56.

Institutional Investors Weigh In On Figma

A number of large investors have recently bought and sold shares of FIG. Gladstone Capital Management LLP grew its holdings in Figma by 2.9% during the fourth quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company's stock valued at $638,000 after purchasing an additional 481 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Figma in the third quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Figma during the 3rd quarter worth $27,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Figma by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company's stock worth $568,000 after buying an additional 559 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in Figma in the 3rd quarter valued at $30,000.

About Figma

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform's real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.

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