Insider Selling: Figma (NYSE:FIG) CFO Sells $442,054.80 in Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 11,880 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $37.21, for a total transaction of $442,054.80. Following the transaction, the chief financial officer owned 1,566,545 shares of the company’s stock, valued at $58,291,139.45. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 22nd, Praveer Melwani sold 11,137 shares of Figma stock. The shares were sold at an average price of $40.01, for a total transaction of $445,591.37.
• On Monday, December 22nd, Praveer Melwani sold 12,714 shares of Figma stock. The stock was sold at an average price of $40.01, for a total transaction of $508,687.14.
• On Monday, December 1st, Praveer Melwani sold 15,781 shares of Figma stock. The shares were sold at an average price of $35.45, for a total transaction of $559,436.45.
• On Wednesday, November 12th, Praveer Melwani sold 10,000 shares of Figma stock. The stock was sold at an average price of $45.00, for a total value of $450,000.00.
• On Monday, November 10th, Praveer Melwani sold 13,000 shares of Figma stock. The stock was sold at an average price of $43.46, for a total value of $564,980.00.
• On Monday, November 10th, Praveer Melwani sold 14,532 shares of Figma stock. The shares were sold at an average price of $43.47, for a total value of $631,706.04.
• On Monday, November 3rd, Praveer Melwani sold 16,092 shares of Figma stock. The stock was sold at an average price of $48.17, for a total value of $775,151.64.

Figma Price Performance

Shares of FIG opened at $37.34 on Friday. The stock’s 50 day moving average price is $38.82. Figma, Inc. has a one year low of $32.83 and a one year high of $142.92. The stock has a market capitalization of $15.53 billion and a PE ratio of -13.93.

Figma (NYSE:FIG) last announced its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.56) by $1.66. Figma had a negative net margin of 99.32% and a negative return on equity of 84.34%. The company had revenue of $274.17 million for the quarter. During the same period last year, the firm earned $0.04 EPS. The company’s revenue for the quarter was up 38.0% compared to the same quarter last year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on FIG. Wells Fargo & Company raised shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research note on Thursday. Barclays raised Figma to a “neutral” rating in a report on Thursday. Piper Sandler lowered their price objective on Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Stifel Nicolaus assumed coverage on Figma in a research note on Wednesday. They issued a “hold” rating and a $40.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on Figma from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Figma presently has a consensus rating of “Hold” and a consensus price target of $56.63.

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.