Figma, Inc. (NYSE:FIG – Get Free Report) Director Lynn Vojvodich Radakovich sold 20,266 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $22.63, for a total transaction of $458,619.58. Following the completion of the sale, the director owned 84,809 shares in the company, valued at $1,919,227.67. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Figma Trading Up 1.4%
Shares of NYSE FIG opened at $23.03 on Thursday. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of -6.33 and a beta of 1.32. Figma, Inc. has a 52 week low of $16.60 and a 52 week high of $55.48. The company’s 50-day moving average price is $23.73 and its 200 day moving average price is $22.09.
Figma (NYSE:FIG – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.30. The firm had revenue of $370.08 million during the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The business’s revenue was up 48.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. As a group, research analysts expect that Figma, Inc. will post -0.75 earnings per share for the current year.
Institutional Trading of Figma
Hedge funds have recently added to or reduced their stakes in the business. Greylock XIV GP LLC acquired a new position in shares of Figma during the 2nd quarter valued at about $1,056,824,403. SC US Ttgp LTD. lifted its holdings in shares of Figma by 5.8% during the 1st 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. Bank of America Corp DE lifted its holdings in shares of Figma by 428.1% during the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company’s stock worth $88,377,000 after acquiring an additional 3,388,902 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Figma in the first quarter worth approximately $36,600,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Figma by 613.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,467,887 shares of the company’s stock worth $31,031,000 after acquiring an additional 1,262,258 shares during the last quarter.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Figma from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. KeyCorp started coverage on Figma in a research note on Monday, September 14th. They issued a “sector weight” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $30.00 target price on shares of Figma in a report on Thursday, June 25th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a research report on Thursday, August 6th. Finally, Wells Fargo & Company cut their price target on Figma from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.56.
Read Our Latest Stock Analysis on Figma
Figma Company Profile
Figma, Inc (NYSE: FIG) develops collaborative software for designing digital products and user experiences. Its browser-based platform enables teams to create, prototype, review and manage designs in real time, supporting collaboration among designers, developers, product managers and other stakeholders.
The company’s product portfolio includes Figma Design, a collaborative interface-design and prototyping tool; FigJam, an online whiteboard for brainstorming and planning; and Dev Mode, which helps developers inspect designs and translate them into software.
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