Figma (NYSE:FIG) Upgraded at Zacks Research

Zacks Research upgraded shares of Figma (NYSE:FIG) to a hold rating in a research note released on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on FIG. Piper Sandler began coverage on shares of Figma in a research note on Wednesday. They set an “overweight” rating and a $85.00 price target on the stock. Wall Street Zen raised shares of Figma to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Figma Trading Up 6.3%

NYSE:FIG opened at $77.35 on Thursday. The company has a market cap of $37.71 billion and a price-to-earnings ratio of 104.53. Figma has a fifty-two week low of $67.00 and a fifty-two week high of $142.92.

Insider Buying and Selling

In other news, CRO Shaunt Voskanian sold 90,000 shares of the stock in a transaction on Friday, August 1st. The shares were 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 of the company’s stock, valued at $52,994,576. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 105,511 shares of the stock in a transaction on Friday, August 1st. The stock was 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 directly owned 834,800 shares of the company’s stock, valued at $26,312,896. The trade was a 11.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 312,500 shares of company stock valued at $10,312,500 and have sold 19,617,451 shares valued at $618,294,215. 45.20% of the stock is currently owned by insiders.

About Figma

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.