Insider Selling in the Wake of an AI Partnership
On February 25 2026, Chief Revenue Officer Voskanian Shaunt sold 8,554 shares of Figma’s Class A stock at $30.00 per share under a Rule 10b‑5‑1 trading plan. The trade, executed when the share price hovered around $29.39, reduced his holdings to 1,580,181 shares. While the sale amount is modest relative to his total stake, it follows a series of larger disposals earlier in 2026 and late‑2025, indicating a pattern of periodic divestiture.
What the Sale Says About Investor Sentiment
The broader insider activity paints a mixed picture. Several executives—including the CTO and several venture partners—have been selling heavily, suggesting a belief that the current price reflects fair value or a need for liquidity. Yet the timing is notable: the sale came days after the company’s high‑profile partnership with OpenAI, which sparked a 21.5 % weekly surge in the stock and drew media buzz above 86 %. Investors are still assessing whether the AI integration will translate into sustainable revenue growth, especially as Figma’s price‑earnings ratio remains negative at –7.03. The trade therefore may signal a cautious stance from insiders who are hedging against volatility in the wake of a transformative but unproven technology shift.
Implications for the Company’s Future
If insiders continue to sell, it could undermine confidence among price‑sensitive investors and pressure the stock further. Conversely, a sustained trend of buying by other executives or institutional holders—such as the recent Ark Invest purchase—may offset the sell pressure. For Figma, the key question is whether the OpenAI partnership will generate a significant revenue lift and justify a higher valuation. The company’s market cap of $12.9 billion and the recent 0.75 % monthly gain suggest cautious optimism, but the negative earnings and steep yearly decline (-74.55 %) underline the risk of overvaluation.
Profile of Voskanian Shaunt
Shaunt’s trading history reveals a disciplined approach to liquidity management. Over the past 12 months, he has executed multiple sales ranging from 2,188 shares at $25.24 to 26,741 shares at $48.17, consistently reducing his stake while maintaining a sizable holding above 1.5 million shares. His trades have been executed via a 10b‑5‑1 plan, indicating a pre‑arranged schedule rather than reactionary selling. This pattern suggests he views the stock as a long‑term investment while periodically rebalancing his portfolio. The recent sale at $30.00 aligns with this trend, likely reflecting a need to free up capital for other opportunities or to diversify holdings.
Takeaway for Investors
Insider selling, especially when tied to a major partnership announcement, can be a double‑edged sword. For cautious investors, Shaunt’s sale may reinforce concerns about the immediate financial impact of the OpenAI tie‑in. However, the continued presence of sizeable holdings and positive media buzz indicate that the company’s strategic direction still retains appeal. Monitoring subsequent insider activity—particularly any buying by other executives or institutional stakeholders—will be crucial for assessing whether Figma’s stock will consolidate gains or retreat under the weight of sell pressure.
| Date | Owner | Transaction Type | Shares | Price per Share | Security |
|---|---|---|---|---|---|
| 2026-02-25 | Voskanian Shaunt (Chief Revenue Officer) | Sell | 8,554.00 | 30.00 | Class A Common Stock |
| 2026-02-25 | Rasmussen Kris (Chief Technology Officer) | Sell | 51,359.00 | 30.00 | Class A Common Stock |
| 2026-02-25 | Kleiner Perkins Caufield & Byers XVII, LLC () | Sell | 4,763,981.00 | N/A | Class A Common Stock |
| 2026-02-25 | Kleiner Perkins Caufield & Byers XVII, LLC () | Sell | 155,962.00 | N/A | Class A Common Stock |
| 2026-02-25 | Kleiner Perkins Caufield & Byers XVII, LLC () | Buy | 1,190,996.00 | N/A | Class A Common Stock |
| 2026-02-25 | Kleiner Perkins Caufield & Byers XVII, LLC () | Sell | 1,188,289.00 | N/A | Class A Common Stock |
