Insider Selling: Figma (NYSE:FIG) General Counsel Sells 18,213 Shares of Stock

Key Points

• Figma’s general counsel Brendan Mulligan sold 18,213 shares at an average price of $25, generating $455,325. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 1.88% to 951,571 shares.
• Figma shares rose 2.5% to $24.36, while the company reported quarterly revenue of $333.44 million, up 46.1% year over year, and adjusted earnings of $0.10 per share versus the expected $0.17 loss.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $32.56; ratings include five Buys, ten Holds and one Sell.

Figma, Inc. (NYSE:FIG - Get Free Report) General Counsel Brendan Mulligan sold 18,213 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $25.00, for a total transaction of $455,325.00. Following the sale, the general counsel owned 951,571 shares in the company, valued at $23,789,275. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brendan Mulligan also recently made the following trade(s):

• On Tuesday, May 19th, Brendan Mulligan sold 18,741 shares of Figma stock. The shares were sold at an average price of $25.04, for a total transaction of $469,274.64.

Figma Stock Up 2.5%

Shares of FIG stock traded up $0.60 during trading hours on Friday, hitting $24.36. 24,722,495 shares of the company were exchanged, compared to its average volume of 20,634,288. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $142.92. The business has a 50 day moving average of $21.46 and a two-hundred day moving average of $23.02.

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

Institutional Investors Weigh In On Figma

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Figma by 69.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company's stock valued at $10,653,000 after acquiring an additional 116,681 shares during the period. Amova Asset Management Americas Inc. lifted its stake in Figma by 641.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company's stock valued at $31,031,000 after purchasing an additional 1,269,900 shares during the last quarter. Freestone Capital Holdings LLC bought a new position in Figma during the fourth quarter worth about $10,297,000. Baillie Gifford & Co. increased its position in Figma by 93.8% during the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company's stock worth $215,386,000 after buying an additional 2,789,986 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Figma by 1,670.9% in the fourth quarter. Ieq Capital LLC now owns 973,880 shares of the company's stock valued at $36,394,000 after buying an additional 918,886 shares during the period.

Wall Street Analyst Weigh In

FIG has been the subject of several recent research reports. Oppenheimer reaffirmed a "market perform" rating on shares of Figma in a research report on Thursday, June 25th. Morgan Stanley dropped their target price on Figma from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Friday, May 15th. Citigroup cut their target price on Figma from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, July 24th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Figma in a research report on Tuesday, May 19th. Finally, BTIG Research initiated coverage on shares of Figma in a report on Monday, April 13th. They issued a "neutral" rating on the stock. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Figma presently has a consensus rating of "Hold" and a consensus target price of $32.56.

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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