Insider Selling: Figma (NYSE:FIG) CTO Sells 179,331 Shares of Stock

Key Points

• CTO Kris Rasmussen sold 179,331 shares on March 3 at $29.80 for about $5.34 million, trimming his stake by 1.73% to 10,169,178 shares and continuing a string of large insider sales earlier this year.
• FIG traded up to $30.24 (market cap ~$13.34B) and reported quarterly revenue of $303.78M (up 40.1%) with EPS of $0.08 beating estimates, but the company remains unprofitable with negative net margin and ROE.
• Analysts are mixed but the consensus rating is a Hold with a consensus target price of $43.25 after several recent upgrades and lowered price targets from major firms.

Figma, Inc. (NYSE:FIG - Get Free Report) CTO Kris Rasmussen sold 179,331 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $29.80, for a total value of $5,344,063.80. Following the sale, the chief technology officer owned 10,169,178 shares of the company's stock, valued at $303,041,504.40. This trade represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Kris Rasmussen also recently made the following trade(s):

• On Wednesday, February 25th, Kris Rasmussen sold 51,359 shares of Figma stock. The stock was sold at an average price of $30.00, for a total value of $1,540,770.00.
• On Tuesday, February 10th, Kris Rasmussen sold 205,438 shares of Figma stock. The stock was sold at an average price of $25.01, for a total value of $5,138,004.38.
• On Monday, February 2nd, Kris Rasmussen sold 74,305 shares of Figma stock. The shares were sold at an average price of $24.86, for a total value of $1,847,222.30.
• On Monday, January 5th, Kris Rasmussen sold 181,345 shares of Figma stock. The shares were sold at an average price of $37.25, for a total value of $6,755,101.25.
• On Friday, January 2nd, Kris Rasmussen sold 14,252 shares of Figma stock. The stock was sold at an average price of $37.21, for a total value of $530,316.92.

Figma Trading Up 2.0%

FIG stock traded up $0.60 during mid-day trading on Thursday, reaching $30.24. 14,137,547 shares of the stock traded hands, compared to its average volume of 15,104,380. Figma, Inc. has a 52-week low of $19.85 and a 52-week high of $142.92. The stock's fifty day moving average is $29.56 and its 200-day moving average is $43.49. The company has a market cap of $13.34 billion and a P/E ratio of -9.69.

Figma (NYSE:FIG - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.28. The business had revenue of $303.78 million for the quarter. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. Figma's quarterly revenue was up 40.1% compared to the same quarter last year.

Hedge Funds Weigh In On Figma

Hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Figma in the third quarter worth about $26,000. NewEdge Advisors LLC acquired a new stake in Figma in the 3rd quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in Figma in the 3rd quarter worth approximately $27,000. Sunbelt Securities Inc. acquired a new position in shares of Figma during the third quarter worth approximately $30,000. Finally, US Bancorp DE bought a new stake in shares of Figma in the third quarter valued at approximately $31,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FIG shares. Wall Street Zen raised Figma from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Barclays upgraded Figma to a "neutral" rating in a report on Thursday, January 8th. Wells Fargo & Company decreased their price target on shares of Figma from $52.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Figma from $65.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 6th. Finally, Morgan Stanley set a $44.00 price objective on shares of Figma in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.25.

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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