Figma (NYSE:FIG) Sets New 12-Month Low - Here's What Happened

Key Points

• Figma's stock reached a new 52-week low at $76.00, reflecting a decline of 6.9% from its previous close of $81.91 with a volume of over 8 million shares traded.
• Major shareholders, including Greylock Xiv Gp LLC and Director Mamoon Amjad Hamid, significantly reduced their stakes, with sales totaling approximately $183 million for over 19 million shares over the last three months.
• Despite recent price drops, Wall Street Zen upgraded Figma's stock to a "hold" rating, indicating some analysts still see potential value in the shares.

Figma, Inc. (NYSE:FIG - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $76.00 and last traded at $76.25, with a volume of 8084860 shares trading hands. The stock had previously closed at $81.91.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Figma to a "hold" rating in a research report on Saturday, August 9th.

Figma Stock Performance

The firm has a market cap of $34.02 billion and a price-to-earnings ratio of 94.32.

Insider Transactions at Figma

In other Figma news, major shareholder Perkins Caufield & Bye Kleiner sold 2,668,654 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 $84,115,974.08. Following the completion of the transaction, the insider directly owned 47,639,812 shares of the company's stock, valued at $1,501,606,874.24. This represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel H. Rimer sold 3,293,276 shares of Figma stock in a transaction dated Friday, August 1st. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have acquired 312,500 shares of company stock worth $10,312,500 and have sold 19,617,451 shares worth $618,294,215.

About Figma

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.