Figma Sees Unusually Large Options Volume (NYSE:FIG)

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

Figma Trading Up 7.7%

Shares of FIG stock traded up $1.97 during trading hours on Monday, hitting $27.47. 18,100,618 shares of the company were exchanged, compared to its average volume of 16,503,336. The business has a 50 day moving average of $20.60 and a two-hundred day moving average of $28.09. Figma has a 52 week low of $16.60 and a 52 week high of $142.92. The company has a market capitalization of $12.24 billion and a PE ratio of -8.02.

Figma (NYSE:FIG) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million during the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, research analysts forecast that Figma will post -0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research note on Friday, May 15th. Oppenheimer started coverage on shares of Figma in a research report on Wednesday, March 25th. They set a “market perform” rating on the stock. Royal Bank Of Canada reduced their target price on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. Wells Fargo & Company reduced their target price on shares of Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Morgan Stanley reduced their target price on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Figma presently has a consensus rating of “Hold” and an average target price of $38.63.

Insider Activity

In related news, General Counsel Brendan Mulligan sold 18,741 shares of Figma stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $25.04, for a total value of $469,274.64. Following the completion of the sale, the general counsel owned 987,986 shares of the company’s stock, valued at approximately $24,739,169.44. The trade was a 1.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tyler Herb sold 1,678 shares of Figma stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.47, for a total transaction of $47,772.66. Following the completion of the sale, the chief accounting officer directly owned 188,913 shares of the company’s stock, valued at approximately $5,378,353.11. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 537,099 shares of company stock worth $14,339,078 in the last ninety days.

Institutional Trading of Figma

Large investors have recently added to or reduced their stakes in the company. Alphabet Inc. bought a new position in Figma in the 3rd quarter valued at about $11,182,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Figma by 69.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company’s stock valued at $10,653,000 after buying an additional 116,681 shares during the period. Rit Capital Partners PLC bought a new position in Figma in the 3rd quarter valued at about $2,592,000. Freestone Capital Holdings LLC bought a new position in Figma in the 4th quarter valued at about $10,297,000. Finally, Baillie Gifford & Co. increased its holdings in Figma by 93.8% in the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after buying an additional 2,789,986 shares during the period.

Figma Company Profile

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.