Praveer Melwani Sells 16,092 Shares of Figma (NYSE:FIG) Stock

Figma, Inc. (NYSE:FIG) CFO Praveer Melwani sold 16,092 shares of Figma stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $48.17, for a total value of $775,151.64. Following the completion of the sale, the chief financial officer directly owned 1,637,450 shares in the company, valued at approximately $78,875,966.50. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Figma Stock Up 4.9%

FIG stock opened at $46.17 on Friday. Figma, Inc. has a twelve month low of $43.00 and a twelve month high of $142.92. The company has a 50 day moving average of $55.98.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. The company had revenue of $274.17 million for the quarter. During the same quarter in the prior year, the company posted $0.04 EPS. The firm’s quarterly revenue was up 38.0% on a year-over-year basis. Figma has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Institutional Investors Weigh In On Figma

A number of institutional investors have recently made changes to their positions in FIG. Baillie Gifford & Co. bought a new position in shares of Figma during the third quarter worth approximately $154,242,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Figma in the 3rd quarter valued at $11,075,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Figma in the 3rd quarter valued at $8,734,000. SG Americas Securities LLC bought a new position in Figma during the 3rd quarter worth $5,815,000. Finally, Rakuten Investment Management Inc. bought a new position in Figma during the 3rd quarter worth $4,425,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Figma in a research report on Monday, August 25th. They issued a “neutral” rating and a $48.00 price objective for the company. Morgan Stanley cut their target price on shares of Figma from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, September 4th. Bank of America reduced their price target on Figma from $85.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Zacks Research upgraded Figma to a “hold” rating in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. reduced their target price on Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.00.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.