Figma (NYSE:FIG) Now Covered by Wolfe Research

Key Points

• Figma has been initiated with a "peer perform" rating by Wolfe Research, joining various other analysts who have provided ratings and price targets ranging from $65 to $85.
• The stock is currently priced at $77.35 with a market cap of $37.71 billion and a P/E ratio of 104.53, indicating high valuation expectations.
• Recently, significant insider sales took place, with major shareholders reducing their stakes by approximately 51.28% and 5.40%, raising concerns about insider confidence in the stock.

Stock analysts at Wolfe Research assumed coverage on shares of Figma (NYSE:FIG - Get Free Report) in a research report issued on Monday,Benzinga reports. The brokerage set a "peer perform" rating on the stock.

A number of other equities research analysts have also commented on the stock. Zacks Research raised shares of Figma to a "hold" rating in a report on Thursday. Piper Sandler assumed 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. Wall Street Zen raised Figma to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. started coverage on Figma in a report on Monday. They set a "neutral" rating and a $65.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on shares of Figma in a research report on Monday. They set an "equal weight" rating and a $82.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $77.33.

Figma Trading Up 6.3%

Shares of FIG stock opened at $77.35 on Monday. Figma has a 52 week low of $67.00 and a 52 week high of $142.92. The firm has a market cap of $37.71 billion and a PE ratio of 104.53.

Insider Activity

In other Figma news, major shareholder Greylock Xiv Gp Llc sold 3,074,755 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $31.51, for a total value of $96,885,530.05. Following the completion of the sale, the insider owned 2,921,029 shares of the company's stock, valued at approximately $92,041,623.79. This represents a 51.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 3,187,765 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $31.52, for a total transaction of $100,478,352.80. Following the completion of the sale, the insider owned 55,810,810 shares in the company, valued at approximately $1,759,156,731.20. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 312,500 shares of company stock valued at $10,312,500 and have 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.

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