Figure Technology Solutions (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum Sells 127,369 Shares

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 127,369 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the completion of the sale, the chief executive officer owned 3,250,466 shares of the company’s stock, valued at approximately $108,403,041.10. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Benjamin Tannenbaum also recently made the following trade(s):

• On Wednesday, April 29th, Michael Benjamin Tannenbaum sold 56,825 shares of Figure Technology Solutions stock. The shares were sold at an average price of $31.97, for a total transaction of $1,816,695.25.

Figure Technology Solutions Price Performance

Shares of NASDAQ:FIGR opened at $35.10 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.38 billion and a P/E ratio of 87.75. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The company has a 50-day moving average price of $33.28 and a 200 day moving average price of $40.46.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to analysts’ expectations of $158.00 million. Figure Technology Solutions’s quarterly revenue was up 90.7% on a year-over-year basis. Research analysts predict that Figure Technology Solutions, Inc. will post 0.93 earnings per share for the current year.

Figure Technology Solutions announced that its Board of Directors has approved a share buyback plan on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $8,183,000. Lisanti Capital Growth LLC purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $3,780,000. JPMorgan Chase & Co. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $15,529,000. BIT Capital GmbH purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $7,718,000. Finally, Fidelity National Financial Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $9,092,000.

Analyst Ratings Changes

A number of brokerages recently commented on FIGR. Piper Sandler raised their price objective on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 19th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Sanford C. Bernstein dropped their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Finally, Bank of America cut shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price for the company. in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.75.

Figure Technology Solutions Company Profile

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.