Figma (NYSE:FIG) Now Covered by Piper Sandler

Key Points

• Piper Sandler has initiated coverage on Figma (NYSE:FIG) with an "overweight" rating and a price target of $85.00, indicating a potential upside of 23.33% from its current price.
• Recent insider transactions include Director Mamoon Amjad Hamid selling over 2.75 million shares for approximately $86.9 million, representing a significant 63.86% reduction in ownership.
• The stock currently has a consensus rating of "Buy" from analysts, alongside a consensus price target of $85.00, reflecting positive market sentiment despite recent insider selling.

Analysts at Piper Sandler assumed coverage on shares of Figma (NYSE:FIG - Get Free Report) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set an "overweight" rating and a $85.00 price target on the stock. Piper Sandler's target price indicates a potential upside of 23.33% from the stock's current price.

Separately, Wall Street Zen raised shares of Figma to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.00.

Figma Stock Performance

Shares of NYSE:FIG opened at $68.92 on Wednesday. Figma has a one year low of $68.61 and a one year high of $142.92.

Insider Buying and Selling

In other news, Director Mamoon Amjad Hamid sold 2,756,020 shares of the company'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 $86,869,750.40. Following the sale, the director directly owned 1,559,622 shares of the company's stock, valued at approximately $49,159,285.44. This represents a 63.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Perkins Caufield & Bye Kleiner sold 87,366 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $2,753,776.32. Following the completion of the sale, the insider directly owned 1,559,622 shares in the company, valued at approximately $49,159,285.44. The trade was a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 312,500 shares of company stock worth $10,312,500 and 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.

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