Figma (NYSE:FIG) Trading Down 2.7% - What's Next?

Key Points

• Figma's stock (NYSE:FIG) traded down 2.7% to $69.35, with trading volume dropping significantly to 1.5 million shares, compared to an average of 12.3 million.
• Analysts have a consensus rating of "Hold" for Figma, with a price target averaging $74.29, while some ratings include "outperform" and "overweight."
• Insider activity revealed significant share sales, with major shareholders reducing their stake, contributing to a decline in ownership by about 51% and 79% respectively for two insiders.

Figma, Inc. (NYSE:FIG - Get Free Report) traded down 2.7% during mid-day trading on Friday . The company traded as low as $68.90 and last traded at $69.35. 1,548,508 shares changed hands during trading, a decline of 87% from the average session volume of 12,333,248 shares. The stock had previously closed at $71.26.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research raised Figma to a "hold" rating in a research note on Thursday, August 21st. William Blair initiated coverage on Figma in a research note on Monday. They set an "outperform" rating for the company. Piper Sandler initiated coverage on Figma in a research note on Wednesday, August 20th. They set an "overweight" rating and a $85.00 price objective for the company. Morgan Stanley initiated coverage on Figma in a research note on Monday. They set an "equal weight" rating and a $80.00 price objective for the company. Finally, Royal Bank Of Canada began coverage on Figma in a research note on Monday. They set a "sector perform" rating and a $75.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.29.

Figma Stock Down 2.5%

The firm has a market cap of $33.88 billion and a price-to-earnings ratio of 93.93.

Insider Activity at Figma

In other Figma news, major shareholder Greylock Xiv Gp Llc sold 3,074,755 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $31.51, for a total transaction of $96,885,530.05. Following the transaction, the insider directly owned 2,921,029 shares in the company, valued at $92,041,623.79. This trade represents a 51.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel H. Rimer sold 3,293,276 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 $103,804,059.52. Following the completion of the transaction, the director owned 834,800 shares in the company, valued at $26,312,896. The trade was a 79.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 312,500 shares of company stock valued at $10,312,500 and sold 19,617,451 shares valued at $618,294,215. 45.20% of the stock is currently owned by corporate 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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