Figma Sees Unusually High Options Volume (NYSE:FIG)

Figma, Inc. (NYSE:FIG) was the target of some unusual options trading on Wednesday. Stock investors purchased 62,183 call options on the stock. This is an increase of approximately 50% compared to the average daily volume of 41,393 call options.

Figma Trading Down 0.9%

FIG stock traded down $0.18 during midday trading on Wednesday, reaching $19.15. The stock had a trading volume of 7,326,084 shares, compared to its average volume of 14,760,047. Figma has a 52-week low of $16.60 and a 52-week high of $142.92. The company’s fifty day simple moving average is $22.11 and its 200 day simple moving average is $30.51. The company has a market cap of $8.51 billion and a price-to-earnings ratio of -6.14.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.28. The firm had revenue of $303.78 million for the quarter. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The business’s revenue was up 40.1% compared to the same quarter last year. Sell-side analysts predict that Figma will post -0.69 EPS for the current year.

Insider Transactions at Figma

In related news, CTO Kris Rasmussen sold 179,331 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $29.80, for a total transaction of $5,344,063.80. Following the sale, the chief technology officer owned 10,169,178 shares in the company, valued at approximately $303,041,504.40. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brendan Mulligan sold 4,817 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $26.30, for a total transaction of $126,687.10. Following the completion of the transaction, the general counsel owned 825,644 shares of the company’s stock, valued at approximately $21,714,437.20. This trade represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 745,697 shares of company stock valued at $22,665,009.

Institutional Investors Weigh In On Figma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alphabet Inc. acquired a new stake in Figma during the third quarter worth $11,182,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 purchasing an additional 116,681 shares during the last quarter. Rit Capital Partners PLC purchased a new position in shares of Figma during the 3rd quarter worth $2,592,000. Freestone Capital Holdings LLC purchased a new position in shares of Figma during the 4th quarter worth $10,297,000. Finally, Baillie Gifford & Co. increased its position in shares of Figma by 93.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock worth $215,386,000 after purchasing an additional 2,789,986 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FIG. Morgan Stanley set a $44.00 price target on Figma in a research note on Thursday, February 19th. Stifel Nicolaus dropped their price objective on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Wells Fargo & Company cut their price target on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, The Goldman Sachs Group set a $35.00 target price on shares of Figma in a research report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.25.

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.