Figma (NYSE:FIG) Earns Outperform Rating from Analysts at William Blair

Key Points

• William Blair has initiated coverage of Figma (NYSE:FIG) with an "outperform" rating, highlighting positive sentiment towards the stock.
• Figma shares opened at $77.35, showing a trading increase of 6.3%, with a current market capitalization of $37.71 billion.
• Insider activity includes significant stock sales by Director Daniel H. Rimer and CRO Shaunt Voskanian, indicating a reduction in their ownership by nearly 80% and 5%, respectively.

William Blair started coverage on shares of Figma (NYSE:FIG - Free Report) in a report issued on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating on the stock.

A number of other brokerages have also issued reports on FIG. Piper Sandler initiated coverage on shares of Figma in a research note on Wednesday, August 20th. They set an "overweight" rating and a $85.00 price target on the stock. Zacks Research upgraded shares of Figma to a "hold" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Figma to a "hold" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Figma presently has an average rating of "Hold" and an average price target of $74.29.

Figma Stock Down 0.6%

Shares of NYSE FIG traded down $0.39 during trading hours on Monday, hitting $70.01. 3,334,938 shares of the stock were exchanged, compared to its average volume of 14,560,348. The firm has a market cap of $34.13 billion and a PE ratio of 94.61. Figma has a 12 month low of $67.00 and a 12 month high of $142.92.

Insider Activity

In other Figma news, Director Daniel H. Rimer sold 3,293,276 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $103,804,059.52. Following the transaction, the director directly owned 834,800 shares of the company's stock, valued at $26,312,896. This trade represents a 79.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $3,325,706.72. Following the transaction, the insider directly owned 834,800 shares in the company, valued at approximately $26,312,896. The trade was a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 312,500 shares of company stock valued at $10,312,500 and sold 19,617,451 shares valued at $618,294,215.

Figma Company Profile

Figma is where teams come together to turn ideas into the world's best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They're looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.