Figma (NYSE:FIG) Shares Up 4.3% - Here's Why

Key Points

• Figma's stock increased by 4.3%, trading at $79.62, with approximately 2.4 million shares changing hands, significantly lower than its average daily volume of 19 million shares.
• Analysts at Wall Street Zen upgraded Figma's rating to a "hold" on August 9th, reflecting a cautious outlook on the stock.
• Insiders have sold a substantial total of 19.6 million shares valued at over $618 million in the last 90 days, indicating significant insider selling activity.

Shares of Figma, Inc. (NYSE:FIG - Get Free Report) were up 4.3% during mid-day trading on Friday . The stock traded as high as $80.00 and last traded at $79.62. Approximately 2,433,597 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 19,004,613 shares. The stock had previously closed at $76.31.

Analyst Ratings Changes

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

Figma Stock Up 4.4%

The company has a market cap of $38.85 billion and a price-to-earnings ratio of 107.70.

Insider Buying and Selling

In other news, Director Daniel H. Rimer sold 3,293,276 shares of the firm's 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 of the company's stock, valued at approximately $26,312,896. This trade represents a 79.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 value of $86,869,750.40. Following the transaction, the director directly owned 1,559,622 shares of the company's stock, valued at $49,159,285.44. This represents a 63.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 312,500 shares of company stock valued at $10,312,500 and have sold 19,617,451 shares valued at $618,294,215. 45.20% of the stock is owned by company insiders.

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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