Figma (NYSE:FIG) General Counsel Brendan Mulligan Sells 5,666 Shares

Figma, Inc. (NYSE:FIG) General Counsel Brendan Mulligan sold 5,666 shares of Figma stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $32.02, for a total value of $181,425.32. Following the completion of the sale, the general counsel directly owned 863,387 shares of the company’s stock, valued at $27,645,651.74. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Brendan Mulligan also recently made the following trade(s):

• On Monday, January 5th, Brendan Mulligan sold 5,666 shares of Figma stock. The shares were sold at an average price of $37.25, for a total transaction of $211,058.50.
• On Friday, January 2nd, Brendan Mulligan sold 6,793 shares of Figma stock. The stock was sold at an average price of $37.21, for a total transaction of $252,767.53.
• On Monday, December 15th, Brendan Mulligan sold 4,392 shares of Figma stock. The shares were sold at an average price of $34.65, for a total value of $152,182.80.
• On Wednesday, December 3rd, Brendan Mulligan sold 4,392 shares of Figma stock. The stock was sold at an average price of $36.68, for a total value of $161,098.56.
• On Monday, December 1st, Brendan Mulligan sold 9,343 shares of Figma stock. The stock was sold at an average price of $35.45, for a total value of $331,209.35.
• On Monday, November 17th, Brendan Mulligan sold 4,299 shares of Figma stock. The shares were sold at an average price of $37.29, for a total value of $160,309.71.
• On Wednesday, November 12th, Brendan Mulligan 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, Brendan Mulligan sold 80,934 shares of Figma stock. The shares were sold at an average price of $43.47, for a total value of $3,518,200.98.
• On Monday, November 3rd, Brendan Mulligan sold 9,526 shares of Figma stock. The shares were sold at an average price of $48.17, for a total transaction of $458,867.42.

Figma Stock Down 6.2%

Figma stock opened at $27.73 on Wednesday. The company has a market cap of $11.53 billion and a price-to-earnings ratio of -10.35. The business’s 50 day moving average price is $36.63. Figma, Inc. has a fifty-two week low of $27.48 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating 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 firm had revenue of $274.17 million during the quarter. During the same period in the previous year, the company posted $0.04 EPS. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis.

Analysts Set New Price Targets

FIG has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Figma from $65.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. The Goldman Sachs Group initiated coverage on shares of Figma in a report on Monday, January 12th. They set a “neutral” rating and a $40.00 target price on the stock. Royal Bank Of Canada cut their price target on shares of Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. lowered their price objective on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Stifel Nicolaus started coverage on shares of Figma in a research report on Wednesday, January 7th. They issued a “hold” rating and a $40.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Figma has a consensus rating of “Hold” and an average price target of $52.13.

Institutional Inflows and Outflows

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

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.