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

Figma, Inc. (NYSE:FIG) was the target of unusually large options trading activity on Monday. Stock investors purchased 152,024 call options on the company. This represents an increase of 210% compared to the average volume of 49,041 call options.

Insider Buying and Selling at Figma

In related news, CTO Kris Rasmussen sold 327,046 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the completion of the transaction, the chief technology officer directly owned 9,771,529 shares of the company’s stock, valued at $244,972,232.03. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.02, for a total transaction of $4,364,238.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 733,309 shares of company stock valued at $17,824,756. Insiders own 32.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in Figma in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Figma during the third quarter worth about $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Figma in the third quarter valued at about $30,000. US Bancorp DE purchased a new stake in shares of Figma in the third quarter valued at about $31,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Figma in the third quarter valued at approximately $33,000.

Analysts Set New Price Targets

Several analysts have recently commented on FIG shares. Royal Bank Of Canada reduced their price target on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, June 25th. JPMorgan Chase & Co. dropped their price objective 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 started coverage on Figma in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Morgan Stanley reduced their target price on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased their target price on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.67.

Figma Price Performance

Shares of NYSE:FIG opened at $23.76 on Wednesday. The firm has a market capitalization of $10.59 billion and a price-to-earnings ratio of -6.93. The business’s 50 day simple moving average is $21.00 and its 200-day simple moving average is $24.25. Figma has a 12 month low of $16.60 and a 12 month high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.27. The firm had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm’s quarterly revenue was up 46.1% on a year-over-year basis. On average, equities analysts anticipate that Figma will post -0.8 earnings per share 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.