Figma (NYSE:FIG) Upgraded at Zacks Research

Key Points

• Figma's stock has been upgraded to a "hold" rating by Zacks Research, indicating a more cautious stance on the stock compared to previous ratings.
• The stock is currently trading at $77.35 with a market cap of $37.71 billion, having a 52-week range of $67.00 to $142.92.
• Significant insider selling occurred recently, with Director Mamoon Amjad Hamid offloading over 2.7 million shares, leading to a 63.86% decrease in his position.

Figma (NYSE:FIG - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a report released on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wall Street Zen upgraded Figma to a "hold" rating in a research note on Saturday, August 9th. Piper Sandler assumed coverage on Figma in a research note on Wednesday. They issued an "overweight" rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Figma Stock Up 6.3%

FIG opened at $77.35 on Thursday. Figma has a 52 week low of $67.00 and a 52 week high of $142.92. The firm has a market cap of $37.71 billion and a PE ratio of 104.53.

Insider Buying and Selling at Figma

In other Figma news, Director Mamoon Amjad Hamid sold 2,756,020 shares of the business's stock in a transaction on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 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 $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 have bought 312,500 shares of company stock worth $10,312,500 and have sold 19,617,451 shares worth $618,294,215. Insiders own 45.20% of the company's stock.

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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