Figma (NYSE:FIG) Stock Price Down 8.5% - Time to Sell?

Key Points

• Figma's stock price dropped by 8.5%, ending the trading session at $69.71, following a significant decline in trading volume.
• Major shareholders sold significant portions of their stakes on August 1, with Perkins Caufield & Bye Kleiner selling approximately 2.67 million shares and Ventures Vi (Jersey) Lp Index selling about 3.19 million shares, both at an average price of $31.52.
• Wall Street Zen upgraded Figma's stock rating to "hold," indicating a shift in analysts' perspectives amidst the stock's recent volatility.

Shares of Figma, Inc. (NYSE:FIG - Get Free Report) fell 8.5% during mid-day trading on Tuesday . The company traded as low as $69.18 and last traded at $69.71. 5,004,573 shares traded hands during trading, a decline of 70% from the average session volume of 16,935,188 shares. The stock had previously closed at $76.16.

Analyst Ratings Changes

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

Figma Trading Down 8.9%

The company has a market cap of $33.82 billion and a P/E ratio of 93.77.

Insider Transactions at Figma

In other news, major shareholder Perkins Caufield & Bye Kleiner sold 2,668,654 shares of Figma stock in a transaction on 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 sale, the insider owned 47,639,812 shares in the company, valued at $1,501,606,874.24. The trade was a 5.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 3,187,765 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $100,478,352.80. Following the sale, the insider owned 55,810,810 shares of the company's stock, valued at $1,759,156,731.20. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 312,500 shares of company stock worth $10,312,500 and 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.

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