Figma (NYSE:FIG) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Figma (NYSE:FIG) in a report published on Monday, Marketbeat.com reports. The firm issued an equal weight rating and a $80.00 target price on the stock.

Other equities research analysts have also issued reports about the company. William Blair initiated coverage on Figma in a research report on Monday. They issued an “outperform” rating for the company. Wolfe Research began coverage on Figma in a research note on Monday. They set a “peer perform” rating on the stock. Zacks Research upgraded Figma to a “hold” rating in a report on Thursday, August 21st. Piper Sandler began coverage on Figma in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $85.00 target price for the company. Finally, Wall Street Zen raised shares of Figma to a “hold” rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Figma has an average rating of “Hold” and a consensus target price of $74.29.

Figma Price Performance

Shares of NYSE FIG opened at $69.66 on Monday. The stock has a market cap of $33.96 billion and a P/E ratio of 94.14. Figma has a 12-month low of $67.00 and a 12-month high of $142.92.

Insider Buying and Selling

In related news, Director Mamoon Amjad Hamid sold 2,756,020 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $31.52, for a total transaction of $86,869,750.40. Following the completion of the sale, the director directly owned 1,559,622 shares of the company’s stock, valued at approximately $49,159,285.44. This trade represents a 63.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Shaunt Voskanian sold 90,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $2,836,800.00. Following the completion of the sale, the executive owned 1,681,300 shares in the company, valued at approximately $52,994,576. This trade represents a 5.08% 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 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.