Figma (NYSE:FIG) Trading Down 5.1% - What's Next?

Key Points

• Figma's shares fell 5.1% on Wednesday, with a last trading price of $82.90, significantly lower than its previous close of $87.36.
• Wall Street Zen has upgraded Figma's stock rating to "hold", reflecting a potential shift in analyst sentiment despite the recent decline in share price.
• Insider trades indicate a trend of selling, with major shareholders significantly reducing their positions in Figma, collectively selling over 19 million shares in the last three months.

Figma, Inc. (NYSE:FIG - Get Free Report) shares dropped 5.1% on Wednesday . The company traded as low as $81.40 and last traded at $82.90. Approximately 4,923,506 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 21,684,355 shares. The stock had previously closed at $87.36.

Wall Street Analysts Forecast Growth

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

Figma Trading Down 6.6%

The firm has a market capitalization of $39.79 billion and a PE ratio of 110.31.

Insider Buying and Selling at Figma

In related news, major shareholder Perkins Caufield & Bye Kleiner sold 87,366 shares of Figma stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $31.52, for a total value of $2,753,776.32. Following the completion of the sale, the insider owned 1,559,622 shares in the company, valued at approximately $49,159,285.44. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 shares of Figma stock in a transaction that occurred 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 trade represents a 11.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 312,500 shares of company stock worth $10,312,500 and have 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.