Figma (NYSE:FIG) Hits New 52-Week Low – Here’s Why

Shares of Figma, Inc. (NYSE:FIG) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $67.00 and last traded at $74.14, with a volume of 8548611 shares trading hands. The stock had previously closed at $69.41.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FIG shares. Piper Sandler started coverage on shares of Figma in a research report on Wednesday. They issued an “overweight” rating and a $85.00 price objective for the company. Wall Street Zen upgraded shares of Figma to a “hold” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $85.00.

Figma Stock Performance

Insider Activity

In other Figma news, major shareholder Ventures Vi (Jersey) Lp Index sold 3,187,765 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 $100,478,352.80. Following the transaction, the insider owned 55,810,810 shares of the company’s stock, valued at approximately $1,759,156,731.20. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Greylock Xiv Gp Llc sold 3,074,755 shares of Figma stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $31.51, for a total transaction of $96,885,530.05. Following the completion of the transaction, the insider directly owned 2,921,029 shares in the company, valued at approximately $92,041,623.79. The trade was a 51.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 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. Company 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.