Figma Sees Unusually High Options Volume (NYSE:FIG)

Figma, Inc. (NYSE:FIG) was the target of some unusual options trading on Thursday. Stock traders acquired 81,080 call options on the company. This represents an increase of approximately 118% compared to the average daily volume of 37,257 call options.

Insider Activity

In other news, CTO Kris Rasmussen sold 179,331 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $29.80, for a total transaction of $5,344,063.80. Following the sale, the chief technology officer directly owned 10,169,178 shares in the company, valued at $303,041,504.40. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brendan Mulligan sold 4,817 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $26.30, for a total value of $126,687.10. Following the sale, the general counsel owned 825,644 shares in the company, valued at $21,714,437.20. This trade represents a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,060,645 shares of company stock worth $30,526,164. 45.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. boosted its holdings in shares of Figma by 138.9% during the 1st quarter. North Star Investment Management Corp. now owns 4,300 shares of the company’s stock worth $91,000 after purchasing an additional 2,500 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Figma during the 1st quarter worth approximately $1,311,000. RFG Advisory LLC boosted its holdings in shares of Figma by 42.5% during the 1st quarter. RFG Advisory LLC now owns 15,100 shares of the company’s stock worth $319,000 after purchasing an additional 4,500 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Figma by 230.3% during the 1st quarter. SG Americas Securities LLC now owns 497,551 shares of the company’s stock worth $10,518,000 after purchasing an additional 346,928 shares during the last quarter. Finally, J. Derek Lewis & Associates Inc. acquired a new position in shares of Figma during the 4th quarter worth approximately $478,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Stifel Nicolaus dropped their target price on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 19th. Oppenheimer assumed coverage on Figma in a research report on Wednesday, March 25th. They set a “market perform” rating on the stock. Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Figma in a research report on Thursday, February 19th. BTIG Research assumed coverage on Figma in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Finally, Royal Bank Of Canada dropped their target price on Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Figma has an average rating of “Hold” and an average price target of $43.25.

Figma Trading Down 9.6%

FIG stock opened at $17.33 on Friday. Figma has a 12-month low of $16.80 and a 12-month high of $142.92. The stock has a market cap of $7.64 billion and a price-to-earnings ratio of -5.55. The business’s 50-day moving average is $23.74 and its 200 day moving average is $34.11.

Figma (NYSE:FIG) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.28. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The company had revenue of $303.78 million for the quarter. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. As a group, equities analysts forecast that Figma will post -0.69 EPS for the current fiscal year.

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.