Figma (NYSE:FIG) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Figma (NYSE:FIG) with a "neutral" rating and a price target of $65.00, indicating a potential downside of 15.97% from the current stock price.
• Other research firms, including Piper Sandler and Wells Fargo, have set higher price targets of $85.00 and $82.00, respectively, suggesting a more optimistic outlook.
• Major shareholders have significantly sold their stakes, with insider transactions reflecting a decrease of over 51% in ownership among key executives.

JPMorgan Chase & Co. started coverage on shares of Figma (NYSE:FIG - Free Report) in a research report released on Monday, MarketBeat.com reports. The brokerage issued a neutral rating and a $65.00 target price on the stock.

FIG has been the topic of a number of other reports. William Blair assumed coverage on Figma in a research note on Monday. They issued an "outperform" rating on the stock. Piper Sandler assumed coverage on Figma in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $85.00 target price on the stock. Wells Fargo & Company assumed coverage on Figma in a research note on Monday. They issued an "equal weight" rating and a $82.00 target price on the stock. Zacks Research upgraded 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 research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $74.29.

Figma Stock Performance

FIG stock traded down $0.39 during mid-day trading on Monday, reaching $70.01. The company had a trading volume of 3,334,938 shares, compared to its average volume of 14,560,348. The stock has a market capitalization of $34.13 billion and a price-to-earnings ratio of 94.61. Figma has a one year low of $67.00 and a one year high of $142.92.

Insider Transactions at Figma

In other Figma news, Director Daniel H. Rimer sold 3,293,276 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $31.52, for a total value of $103,804,059.52. Following the sale, the director directly owned 834,800 shares in the company, valued at approximately $26,312,896. The trade was a 79.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mamoon Amjad Hamid sold 2,756,020 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $31.52, for a total transaction of $86,869,750.40. Following the completion of the sale, the director owned 1,559,622 shares in the company, valued at approximately $49,159,285.44. This trade represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 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.