Investors Buy High Volume of Figma Call Options (NYSE:FIG)

Figma, Inc. (NYSE:FIG) saw unusually large options trading on Monday. Traders acquired 71,862 call options on the stock. This is an increase of 46% compared to the average daily volume of 49,220 call options.

Figma Stock Down 10.6%

NYSE FIG opened at $24.24 on Wednesday. The company has a 50-day simple moving average of $20.66 and a two-hundred day simple moving average of $27.97. Figma has a 12-month low of $16.60 and a 12-month high of $142.92. The firm has a market cap of $10.80 billion and a price-to-earnings ratio of -7.07.

Figma (NYSE:FIG) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.27. The business had revenue of $333.44 million during the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business’s revenue for the quarter was up 46.1% compared to the same quarter last year. Equities analysts expect that Figma will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dylan Field sold 174,430 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.02, for a total transaction of $4,364,238.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Kris Rasmussen sold 327,046 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total value of $8,199,043.22. Following the completion of the sale, the chief technology officer owned 9,771,529 shares in the company, valued at $244,972,232.03. This represents a 3.24% decrease in their position. 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. Over the last quarter, insiders have sold 525,703 shares of company stock worth $13,175,159.

Hedge Funds Weigh In On Figma

Institutional investors and hedge funds have recently made changes to their positions in the business. Alphabet Inc. bought a new stake in Figma in the 3rd quarter worth approximately $11,182,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Figma by 69.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 285,055 shares of the company’s stock worth $10,653,000 after purchasing an additional 116,681 shares in the last quarter. Rit Capital Partners PLC purchased a new stake in shares of Figma during the 3rd quarter valued at about $2,592,000. Freestone Capital Holdings LLC bought a new position in Figma during the 4th quarter valued at about $10,297,000. Finally, Baillie Gifford & Co. grew its holdings in Figma by 93.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,763,613 shares of the company’s stock valued at $215,386,000 after purchasing an additional 2,789,986 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FIG. JPMorgan Chase & Co. reduced their target price on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. BTIG Research began coverage on Figma in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Morgan Stanley decreased their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 15th. Wall Street Zen upgraded Figma from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Wells Fargo & Company dropped their price objective on Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research note 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. According to data from MarketBeat.com, Figma currently has an average rating of “Hold” and a consensus target price of $38.63.

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.