Shaunt Voskanian Sells 87,510 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) CRO Shaunt Voskanian sold 87,510 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the sale, the executive directly owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. The trade was a 4.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figma Trading Down 3.5%

NYSE FIG opened at $21.73 on Friday. The company has a fifty day simple moving average of $20.69 and a two-hundred day simple moving average of $27.55. The stock has a market cap of $9.68 billion and a P/E ratio of -6.33. Figma, Inc. has a 12-month low of $16.60 and a 12-month high of $142.92.

Figma (NYSE:FIG) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million during 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% compared to the same quarter last year. As a group, sell-side analysts forecast that Figma, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FIG shares. Royal Bank Of Canada decreased their price target on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. Stifel Nicolaus set a $25.00 price target on shares of Figma in a report on Friday, May 15th. The Goldman Sachs Group set a $35.00 price target on shares of Figma in a report on Thursday, February 19th. Wall Street Zen raised shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, BTIG Research started coverage on shares of Figma in a report on Monday, April 13th. They issued a “neutral” rating for the company. Four 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.63.

Institutional Trading of Figma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SC US Ttgp LTD. increased its stake in shares of Figma by 5.8% in the first quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company’s stock worth $565,034,000 after acquiring an additional 1,466,851 shares during the period. ICONIQ Capital LLC acquired a new stake in shares of Figma in the third quarter worth $1,108,879,000. a16z Capital Management L.L.C. acquired a new stake in shares of Figma in the third quarter worth $842,687,000. JPMorgan Chase & Co. increased its stake in shares of Figma by 119.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,643,939 shares of the company’s stock worth $248,284,000 after acquiring an additional 3,615,198 shares during the period. Finally, Baillie Gifford & Co. increased its stake in shares of Figma by 93.8% in the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after acquiring an additional 2,789,986 shares during the period.

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.