Figma (FIG) stock fell roughly 5% on Wednesday after a regulatory filing revealed CEO Dylan Field sold $4.36 million worth of Class A stock earlier this month. The stock was trading around $23 following the news.
Field disposed of 174,430 Class A shares on May 29 at a weighted average price of $25.02, with individual transactions priced between $25.00 and $25.11. The sale was carried out through the Field 2024 GRAT Remainder Trust, with A7P Trust Company acting as trustee.
The transaction was part of a pre-planned Rule 10b5-1 arrangement — known as the “Field Diversification Plan” — which Field adopted back in August 2025. These plans are set up in advance to allow executives to sell stock at scheduled intervals without it being seen as trading on inside information.
Before the sale, the trust’s 174,430 Class B shares were converted into an equal number of Class A shares, a standard process outlined in Figma’s corporate charter. Following the sale, the trust no longer holds Class A shares.
Field still holds a very large stake in the company. He directly owns 37,987,566 Class B shares and holds additional positions indirectly through LLL Investments LLC (14,754,517 Class B shares), the Field 2021 Descendants Trust (1,122,908 Class B shares), and the Field 2024 GRAT Remainder Trust (348,859 Class B shares still remaining).
The stock’s drop didn’t happen in isolation. The iShares Expanded Tech-Software Sector ETF (IGV) fell 3.5% on the same day, pulling back after gaining more than 25% over the prior month. Renewed concerns about AI disruption have prompted some rotation out of software names.
Figma’s own stock has had a rough stretch regardless. FIG is down 79% over the past year, with the share price sitting around $23 at the time of writing.
The analyst community has been adjusting expectations. Stifel cut its price target to $25, citing uncertainty around AI. Piper Sandler reduced its target to $30, pointing to margin pressure. RBC Capital lowered its to $28, flagging valuation concerns. Oppenheimer maintained a Perform rating.
Activist shareholder Findell Capital Management has separately urged Figma to tighten operations and review board governance, following the launch of a competing design product by Anthropic.
Despite the stock’s decline, Figma’s underlying business has continued to grow. The company posted 41% revenue growth to $1.16 billion with gross profit margins of close to 80%. In Q1, revenue grew 46% year-over-year, beating estimates by $17.4 million. Management credited seat expansion and AI adoption as key drivers.
Analysts at InvestingPro expect Figma to turn profitable this year after recent losses.
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