Figma Executives Sell $20 Million in Shares Amid Stock Slump
Figma's CFO Praveer Melwani and CRO Shaunt Voskanian offloaded significant stakes in the company as its stock hovered NEAR a 12-month low. Melwani sold 53,624 shares between November 3-12, including a $631,706 transaction on November 10 at $43.47 per share. Voskanian's single-day sale of 403,335 shares at $43.39 netted approximately $17.5 million, reducing his position by 20%.
The design software firm's shares fell 7.7% to $40.60, a stark contrast to its 52-week high of $142.92. This sell-off occurred despite Figma reporting better-than-expected earnings of $0.10 per share against a projected loss of $1.56, with revenue climbing 38% year-over-year to $274.17 million.
Institutional investors displayed contrasting confidence, with Baillie Gifford and SurgoCap Partners establishing new positions worth $154.2 million and $120.2 million respectively during Q3. The divergent moves between insiders and institutions create a complex narrative for Figma's post-IPO trajectory.
