Figma Target of Unusually High Options Trading (NYSE:FIG)

Figma, Inc. (NYSE:FIG) was the target of some unusual options trading on Monday. Stock traders purchased 152,024 call options on the company. This is an increase of approximately 210% compared to the average volume of 49,041 call options.

Analysts Set New Price Targets

Several analysts have recently commented on FIG shares. BTIG Research assumed coverage on shares of Figma in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Stifel Nicolaus set a $25.00 price target on shares of Figma in a research note on Friday, May 15th. Morgan Stanley cut their price target on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Royal Bank Of Canada reduced their price objective on shares of Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Figma in a report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus price target of $32.67.

Insiders Place Their Bets

In other news, General Counsel Brendan Mulligan sold 18,741 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.04, for a total transaction of $469,274.64. Following the completion of the sale, the general counsel owned 987,986 shares in the company, valued at $24,739,169.44. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 83,974 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total value of $1,912,087.98. Following the sale, the chief financial officer directly owned 1,749,024 shares of the company’s stock, valued at approximately $39,825,276.48. This represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 733,309 shares of company stock valued at $17,824,756. 45.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Figma

A number of institutional investors and hedge funds have recently modified their holdings of FIG. Parallel Advisors LLC increased its stake in Figma by 3,890.0% in the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after purchasing an additional 1,167 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Figma during the third quarter worth $26,000. DV Equities LLC purchased a new stake in Figma during the fourth quarter worth $26,000. Concord Wealth Partners grew its holdings in Figma by 1,446.8% in the fourth quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after purchasing an additional 680 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in Figma by 1,568.2% in the fourth quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the last quarter.

Figma Stock Up 12.6%

Shares of NYSE FIG traded up $2.66 during midday trading on Monday, hitting $23.77. The company had a trading volume of 29,737,092 shares, compared to its average volume of 17,408,291. The firm has a market capitalization of $10.59 billion and a price-to-earnings ratio of -6.93. Figma has a twelve month low of $16.60 and a twelve month high of $142.92. The business has a 50-day simple moving average of $20.79 and a two-hundred day simple moving average of $24.46.

Figma (NYSE:FIG) last issued its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company had revenue of $333.44 million for the quarter. The business’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, equities analysts forecast that Figma will post -0.8 EPS for the current 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.