Figma Sees Unusually Large Options Volume (NYSE:FIG)

Figma, Inc. (NYSE:FIG) saw some unusual options trading activity on Thursday. Stock investors purchased 81,080 call options on the stock. This is an increase of approximately 118% compared to the typical volume of 37,257 call options.

Insider Buying and Selling

In related news, General Counsel Brendan Mulligan sold 4,817 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $26.30, for a total transaction of $126,687.10. Following the transaction, the general counsel directly 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $5,344,063.80. Following the completion of the sale, the chief technology officer owned 10,169,178 shares in the company, valued at $303,041,504.40. The trade was a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,060,645 shares of company stock valued at $30,526,164 over the last three months. Company insiders own 45.20% of the company’s stock.

Hedge Funds Weigh In On Figma

Hedge funds have recently added to or reduced their stakes in the stock. SC US Ttgp LTD. acquired a new stake in Figma in the 3rd quarter valued at approximately $1,310,305,000. ICONIQ Capital LLC bought a new position in shares of Figma during the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. bought a new position in shares of Figma during the 3rd quarter worth approximately $842,687,000. Viking Global Investors LP bought a new position in shares of Figma during the 4th quarter worth approximately $214,967,000. Finally, Durable Capital Partners LP bought a new stake in Figma in the 3rd quarter valued at $278,510,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley set a $44.00 price objective on shares of Figma in a research note on Thursday, February 19th. Royal Bank Of Canada dropped their price target 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 began coverage on Figma in a research report on Monday, April 13th. They set a “neutral” rating for the company. Oppenheimer assumed coverage on Figma in a research report on Wednesday, March 25th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company reduced their price target on Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.25.

Figma Stock Down 10.1%

NYSE:FIG traded down $1.94 during trading hours on Thursday, reaching $17.23. The company had a trading volume of 20,033,862 shares, compared to its average volume of 14,825,501. Figma has a one year low of $16.80 and a one year high of $142.92. The firm has a market capitalization of $7.60 billion and a PE ratio of -5.53. The stock has a 50-day moving average of $23.84 and a two-hundred day moving average of $34.23.

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

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.