Figma, Inc. (NYSE:FIG – Get Free Report) CFO Praveer Melwani sold 381,288 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $25.13, for a total value of $9,581,767.44. Following the transaction, the chief financial officer owned 1,725,716 shares in the company, valued at approximately $43,367,243.08. This trade represents a 18.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Praveer Melwani also recently made the following trade(s):
- On Monday, July 6th, Praveer Melwani sold 30,460 shares of Figma stock. The shares were sold at an average price of $20.48, for a total value of $623,820.80.
- On Wednesday, June 3rd, Praveer Melwani sold 83,974 shares of Figma stock. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98.
Figma Stock Performance
FIG opened at $24.36 on Friday. Figma, Inc. has a 52-week low of $16.60 and a 52-week high of $142.92. The firm has a market cap of $10.86 billion and a P/E ratio of -7.10. The business’s fifty day moving average is $21.46 and its 200-day moving average is $23.02.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on FIG shares. BTIG Research initiated coverage on shares of Figma in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Piper Sandler restated an “overweight” rating and set a $30.00 price objective on shares of Figma in a research report on Thursday, June 25th. Morgan Stanley reduced their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Bank of America assumed coverage on Figma in a research note on Tuesday, July 7th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.56.
Check Out Our Latest Stock Report on Figma
Hedge Funds Weigh In On Figma
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Figma by 69.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company’s stock worth $10,653,000 after acquiring an additional 116,681 shares during the last quarter. Amova Asset Management Americas Inc. raised its position in Figma by 641.4% in the first 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. Baillie Gifford & Co. raised its position in Figma by 93.8% in the fourth quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after purchasing an additional 2,789,986 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in shares of Figma during the fourth quarter valued at about $10,297,000. Finally, Ieq Capital LLC boosted its stake in shares of Figma by 1,670.9% during the fourth quarter. Ieq Capital LLC now owns 973,880 shares of the company’s stock valued at $36,394,000 after purchasing an additional 918,886 shares in the last quarter.
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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