Figma (NYSE:FIG) Trading 2.2% Higher - Still a Buy?

Key Points

• Figma's shares increased by 2.2% to last trade at $71.97, despite a notable decrease in trading volume, which fell by 90% compared to the average.
• Wells Fargo set an "equal weight" rating with a target price of $82.00, while Goldman Sachs gave a "neutral" rating with a target of $48.00, reflecting mixed analyst sentiments.
• Insider trading saw significant activity, with the CRO selling 90,000 shares at an average price of $31.52, which contributed to a 5.08% decrease in their position.

Figma, Inc. (NYSE:FIG - Get Free Report) shares traded up 2.2% during mid-day trading on Tuesday . The company traded as high as $72.20 and last traded at $71.97. 1,410,211 shares were traded during trading, a decline of 90% from the average session volume of 13,820,076 shares. The stock had previously closed at $70.40.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Figma in a research report on Monday. They set an "equal weight" rating and a $82.00 price objective for the company. Wolfe Research started coverage on Figma in a research report on Monday. They set a "peer perform" rating for the company. The Goldman Sachs Group assumed coverage on Figma in a report on Monday. They set a "neutral" rating and a $48.00 target price on the stock. Zacks Research upgraded Figma to a "hold" rating in a research note on Thursday, August 21st. Finally, William Blair assumed coverage on Figma in a research note on Monday. They set an "outperform" rating for the company. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $74.29.

Figma Price Performance

The stock has a market cap of $34.11 billion and a price-to-earnings ratio of 94.55.

Insider Activity

In related news, CRO Shaunt Voskanian sold 90,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $31.52, for a total transaction of $2,836,800.00. Following the completion of the sale, the executive directly owned 1,681,300 shares of the company's stock, valued at $52,994,576. This trade represents a 5.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $31.52, for a total value of $3,325,706.72. Following the sale, the insider directly 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 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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