Figma Sees Unusually Large Options Volume (NYSE:FIG)

Figma, Inc. (NYSE:FIG) was the recipient of some unusual options trading activity on Monday. Stock traders bought 71,862 call options on the stock. This is an increase of 46% compared to the typical daily volume of 49,220 call options.

Figma Trading Up 7.7%

FIG traded up $1.97 during trading on Monday, reaching $27.47. 18,100,618 shares of the company’s stock were exchanged, compared to its average volume of 16,503,336. Figma has a one year low of $16.60 and a one year high of $142.92. The stock has a market capitalization of $12.24 billion and a PE ratio of -8.02. The firm has a fifty day moving average price of $20.60 and a two-hundred day moving average price of $28.09.

Figma (NYSE:FIG) last posted its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The firm had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. Figma’s revenue for the quarter was up 46.1% on a year-over-year basis. Sell-side analysts expect that Figma will post -0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

FIG has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Stifel Nicolaus set a $25.00 price target on shares of Figma in a report on Friday, May 15th. The Goldman Sachs Group set a $35.00 price target on shares of Figma in a report on Thursday, February 19th. Wells Fargo & Company decreased their price target on shares of Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, Royal Bank Of Canada decreased their price target on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.63.

Insider Buying and Selling at Figma

In other Figma news, General Counsel Brendan Mulligan sold 18,741 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total value of $469,274.64. Following the transaction, the general counsel directly owned 987,986 shares of the company’s stock, valued at $24,739,169.44. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 327,046 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the completion of the transaction, the chief technology officer directly owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 537,099 shares of company stock valued at $14,339,078 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after buying an additional 1,167 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Figma during the third quarter worth $26,000. DV Equities LLC acquired a new position in Figma during the fourth quarter worth $26,000. Concord Wealth Partners raised its holdings in Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after buying an additional 680 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in Figma by 1,568.2% during the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock worth $27,000 after buying an additional 690 shares during the last quarter.

About Figma

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.