Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) Director Sells 67,840 Shares of Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director June Ou sold 67,840 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figure Technology Solutions Trading Up 2.6%

Shares of NASDAQ:FIGR traded up $0.94 during trading on Friday, reaching $36.67. The stock had a trading volume of 6,734,335 shares, compared to its average volume of 5,482,198. The business has a fifty day moving average price of $33.63 and a 200-day moving average price of $40.99. 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 stock has a market cap of $6.51 billion and a P/E ratio of 91.68. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00.

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

Figure Technology Solutions declared that its board has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FIGR shares. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Mizuho dropped their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 26th. Needham & Company LLC dropped their price target on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Sanford C. Bernstein dropped their price target on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Finally, Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Figure Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $53.75.

Institutional Investors Weigh In On Figure Technology Solutions

Several institutional investors have recently bought and sold shares of FIGR. Federated Hermes Inc. purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $8,183,000. Lisanti Capital Growth LLC purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $3,780,000. JPMorgan Chase & Co. purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $15,529,000. BIT Capital GmbH acquired a new stake in Figure Technology Solutions in the third quarter valued at $7,718,000. Finally, Fidelity National Financial Inc. acquired a new position in Figure Technology Solutions during the 3rd quarter worth $9,092,000.

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.