Figma (NYSE:FIG) Stock Price Down 1.4% - Time to Sell?

Key Points

• Figma (NYSE:FIG) stock declined by 1.4%, trading at $73.00 after hitting a low of $71.82, with significantly lower trading volume of 1,090,363 shares compared to the average.
• Analysts have set an average price target of $85.00 for Figma, with Piper Sandler issuing an "overweight" rating and one analyst listing a "Buy" rating.
• Insider activity has increased, with major shareholders selling millions of shares; in total, 19,617,451 shares were sold over the last three months, representing a significant change in insider ownership.

Figma, Inc. (NYSE:FIG - Get Free Report) fell 1.4% on Thursday . The stock traded as low as $71.82 and last traded at $73.00. 1,090,363 shares were traded during mid-day trading, a decline of 93% from the average session volume of 15,657,658 shares. The stock had previously closed at $74.04.

Analysts Set New Price Targets

Several brokerages recently weighed in on FIG. Piper Sandler began coverage on shares of Figma in a report on Wednesday. They issued an "overweight" rating and a $85.00 price objective on the stock. Wall Street Zen upgraded shares of Figma to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $85.00.

Figma Trading Down 3.0%

The company has a market cap of $35.01 billion and a P/E ratio of 97.07.

Insider Activity at Figma

In other news, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $3,325,706.72. Following the completion of the sale, the insider owned 834,800 shares of the company's stock, valued at $26,312,896. This represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mamoon Amjad Hamid sold 2,756,020 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 $86,869,750.40. Following the sale, 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 three months, 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 currently owned by 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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