Figma (NYSE:FIG) Stock Price Up 3.2% - Here's What Happened

Key Points

• Figma's stock price increased by 3.2%, closing at $67.67 after trading as high as $68.29, although the trading volume was significantly lower than average, down 79%.
• Analyst ratings for Figma are mixed, with Morgan Stanley giving an "equal weight" rating and a target of $80, while Bank of America issued a "buy" rating with a target of $85, leading to a consensus rating of "Hold" with a target of $74.29.
• Insider activity included significant stock sales by Director Mamoon Amjad Hamid and CRO Shaunt Voskanian, totaling over $89 million in sales, indicating a potential shift in ownership dynamics.

Figma, Inc. (NYSE:FIG - Get Free Report) shares rose 3.2% during trading on Wednesday . The stock traded as high as $68.29 and last traded at $67.67. Approximately 2,520,192 shares were traded during trading, a decline of 79% from the average daily volume of 11,786,483 shares. The stock had previously closed at $65.57.

Wall Street Analysts Forecast Growth

FIG has been the subject of several analyst reports. Morgan Stanley initiated coverage on Figma in a report on Monday, August 25th. They set an "equal weight" rating and a $80.00 price objective for the company. Wolfe Research began coverage on Figma in a research note on Monday, August 25th. They issued a "peer perform" rating for the company. Bank of America began coverage on Figma in a research note on Monday, August 25th. They issued a "buy" rating and a $85.00 target price for the company. Zacks Research upgraded Figma to a "hold" rating in a research note on Thursday, August 21st. Finally, William Blair began coverage on Figma in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Figma has a consensus rating of "Hold" and a consensus price target of $74.29.

Figma Stock Up 1.2%

The stock has a market cap of $32.34 billion and a P/E ratio of 89.66.

Insider Activity

In related news, Director Mamoon Amjad Hamid sold 2,756,020 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 $86,869,750.40. Following the sale, the director directly owned 1,559,622 shares in the company, valued at approximately $49,159,285.44. The trade was a 63.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Shaunt Voskanian sold 90,000 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 $2,836,800.00. Following the completion of the sale, the executive owned 1,681,300 shares in the company, valued at approximately $52,994,576. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 312,500 shares of company stock worth $10,312,500 and sold 19,617,451 shares worth $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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