Wells Fargo & Company Begins Coverage on Figma (NYSE:FIG)

Key Points

• Wells Fargo & Company initiated coverage on Figma (NYSE: FIG) with an "equal weight" rating and set a price target of $82.00, suggesting a potential upside of 6.01% from the current stock price.
• Figma currently has an average rating of "Hold" from analysts, with a consensus price target of $77.33, while recent reports include ratings of "overweight" and "outperform" from other research firms.
• Recent insider activity includes major shareholders selling significant numbers of shares, with one insider reducing their ownership by 5.30%, highlighting potential changes in confidence among executives.

Equities researchers at Wells Fargo & Company began coverage on shares of Figma (NYSE:FIG - Get Free Report) in a research report issued on Monday, Marketbeat Ratings reports. The firm set an "equal weight" rating and a $82.00 price target on the stock. Wells Fargo & Company's target price would suggest a potential upside of 17.13% from the company's current price.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Figma to a "hold" rating in a research note on Saturday, August 9th. Piper Sandler initiated coverage on shares of Figma in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $85.00 price target for the company. Zacks Research upgraded shares of Figma to a "hold" rating in a research note on Thursday, August 21st. Finally, William Blair started coverage on shares of Figma in a research note on Monday. They issued an "outperform" rating for the company. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $74.29.

Figma Stock Performance

Shares of NYSE FIG traded down $0.39 during midday trading on Monday, hitting $70.01. The company's stock had a trading volume of 3,334,938 shares, compared to its average volume of 14,560,348. Figma has a 1 year low of $67.00 and a 1 year high of $142.92. The firm has a market cap of $34.13 billion and a price-to-earnings ratio of 94.61.

Insider Activity at Figma

In other news, major shareholder Ventures Vi (Jersey) Lp Index sold 3,187,765 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $100,478,352.80. Following the transaction, the insider directly owned 55,810,810 shares of the company's stock, valued at $1,759,156,731.20. This represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel H. Rimer sold 3,293,276 shares of the company's stock in a transaction on Friday, August 1st. The stock was 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 in the company, valued at approximately $26,312,896. This trade represents a 79.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 312,500 shares of company stock worth $10,312,500 and have sold 19,617,451 shares worth $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.