Figma (NYSE:FIG) Shares Down 2.2% - Should You Sell?

Key Points

• Figma's shares fell 2.2%, trading as low as $77.27, significantly below its previous closing price of $79.42, with trading volume declining by 90% from the average.
• Wall Street analysts recently upgraded Figma to a "hold" rating, indicating a cautious outlook for investors.
• Major insider transactions included substantial share sales by a major shareholder and a director, decreasing their positions significantly while insiders still made recent purchases.

Figma, Inc. (NYSE:FIG - Get Free Report)'s share price fell 2.2% during trading on Monday . The company traded as low as $77.27 and last traded at $77.71. 1,696,546 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 17,795,488 shares. The stock had previously closed at $79.42.

Wall Street Analyst Weigh In

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

Figma Stock Down 2.6%

The firm has a market cap of $37.70 billion and a price-to-earnings ratio of 104.50.

Insider Transactions at Figma

In other Figma news, major shareholder Perkins Caufield & Bye Kleiner sold 2,668,654 shares of the firm'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 transaction, the insider owned 47,639,812 shares of the company's stock, valued at $1,501,606,874.24. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mamoon Amjad Hamid sold 2,756,020 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were 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 $49,159,285.44. The trade was a 63.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 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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