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

Key Points

• Figma saw unusually heavy options activity on Monday, with traders buying 152,024 call options—about 210% above its normal daily volume.
• Company insiders sold shares recently, including the CFO and CRO, with insiders selling 733,309 shares over the last 90 days under pre-arranged Rule 10b5-1 plans.
• The stock jumped 12.6% to $23.77 on strong volume, while analysts currently rate it a consensus Hold with an average target price of $32.67.

Figma, Inc. (NYSE:FIG - Get Free Report) was the target of unusually large options trading on Monday. Traders acquired 152,024 call options on the company. This is an increase of approximately 210% compared to the typical daily volume of 49,041 call options.

Insiders Place Their Bets

In other news, CFO Praveer Melwani sold 30,460 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.48, for a total value of $623,820.80. Following the sale, the chief financial officer directly owned 1,711,526 shares in the company, valued at approximately $35,052,052.48. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 8,629 shares of the business's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.62, for a total value of $177,929.98. Following the transaction, the executive directly owned 1,764,672 shares of the company's stock, valued at $36,387,536.64. The trade was a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 733,309 shares of company stock valued at $17,824,756. 45.20% of the stock is owned by company insiders.

Institutional Trading of Figma

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its stake in Figma by 3,890.0% in the first 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 during the period. NewEdge Advisors LLC acquired a new stake in shares of Figma during the third quarter worth about $26,000. DV Equities LLC acquired a new stake in shares of Figma during the fourth quarter worth about $26,000. Concord Wealth Partners grew its holdings in shares of Figma by 1,446.8% during the fourth quarter. Concord Wealth Partners now owns 727 shares of the company's stock worth $27,000 after buying an additional 680 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company's stock valued at $27,000 after acquiring an additional 690 shares during the period.

Wall Street Analysts Forecast Growth

FIG has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price on shares of Figma from $28.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Thursday, June 25th. Bank of America assumed coverage on shares of Figma in a research note on Tuesday, July 7th. They issued a "buy" rating and a $30.00 price target for the company. BTIG Research began coverage on shares of Figma in a report on Monday, April 13th. They set a "neutral" rating for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Figma in a research report on Tuesday, May 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Figma from $42.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $32.67.

Figma Stock Up 12.6%

FIG traded up $2.66 during trading on Monday, hitting $23.77. 29,737,092 shares of the stock were exchanged, compared to its average volume of 17,408,291. The firm has a market capitalization of $10.59 billion and a P/E ratio of -6.93. Figma has a 1-year low of $16.60 and a 1-year high of $142.92. The stock has a fifty day moving average price of $20.79 and a two-hundred day moving average price of $24.46.

Figma (NYSE:FIG - Get Free Report) last posted 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 business 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%.Figma's quarterly revenue was up 46.1% compared to the same quarter last year. Analysts predict 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.

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