Figma Sees Unusually High Options Volume (NYSE:FIG)

Figma, Inc. (NYSE:FIG) was the target of unusually large options trading on Wednesday. Traders purchased 62,183 call options on the company. This is an increase of approximately 50% compared to the typical daily volume of 41,393 call options.

Insider Activity

In related news, General Counsel Brendan Mulligan sold 5,227 shares of Figma stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $26.00, for a total value of $135,902.00. Following the completion of the sale, the general counsel directly owned 845,262 shares in the company, valued at $21,976,812. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dylan Field sold 250,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $30.80, for a total transaction of $7,700,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 745,697 shares of company stock valued at $22,665,009.

Hedge Funds Weigh In On Figma

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Private Wealth LLC purchased a new position in Figma during the 1st quarter worth approximately $74,000. Resolute Advisors LLC increased its stake in shares of Figma by 303.3% in the first quarter. Resolute Advisors LLC now owns 25,813 shares of the company’s stock worth $546,000 after acquiring an additional 19,413 shares during the period. Amova Asset Management Americas Inc. increased its stake in shares of Figma by 641.4% in the first quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company’s stock worth $31,031,000 after acquiring an additional 1,269,900 shares during the period. Allen Operations LLC raised its holdings in shares of Figma by 4.3% during the first quarter. Allen Operations LLC now owns 19,596 shares of the company’s stock worth $414,000 after purchasing an additional 813 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Figma during the first quarter valued at $1,693,000.

Figma Price Performance

Figma stock traded down $0.18 during mid-day trading on Wednesday, reaching $19.15. 7,326,084 shares of the company traded hands, compared to its average volume of 14,760,047. The firm’s fifty day moving average is $22.11 and its two-hundred day moving average is $30.51. The company has a market capitalization of $8.51 billion and a price-to-earnings ratio of -6.14. Figma has a fifty-two week low of $16.60 and a fifty-two week high of $142.92.

Figma (NYSE:FIG) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share for the quarter, beating 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%. Figma’s revenue was up 40.1% compared to the same quarter last year. As a group, equities research analysts predict that Figma will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FIG has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report 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 research report on Thursday, February 19th. Royal Bank Of Canada cut their target price on Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 19th. BTIG Research assumed coverage on shares of Figma in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a research report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.