Michael Benjamin Tannenbaum Sells 14,871 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 14,871 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $37.27, for a total transaction of $554,242.17. Following the completion of the transaction, the chief executive officer owned 3,193,641 shares of the company’s stock, valued at approximately $119,027,000.07. This trade represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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, May 20th, Michael Benjamin Tannenbaum sold 2,031 shares of Figure Technology Solutions stock. The shares were sold at an average price of $36.03, for a total transaction of $73,176.93.
• 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.
• On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15.

Figure Technology Solutions Trading Down 5.5%

NASDAQ:FIGR traded down $2.02 on Thursday, reaching $34.38. 4,104,664 shares of the stock traded hands, compared to its average volume of 5,077,227. The firm has a market capitalization of $6.28 billion and a price-to-earnings ratio of 59.28. The company’s 50 day moving average is $35.30 and its 200-day moving average is $40.24. The company has a current ratio of 1.90, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. Equities research analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions announced that its board has authorized a share repurchase plan on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Figure Technology Solutions

Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at $25,000. WPG Advisers LLC grew its position in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after purchasing an additional 388 shares during the period. Strs Ohio acquired a new stake in Figure Technology Solutions in the 4th quarter valued at $34,000. MetLife Investment Management LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at $35,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at $40,000.

Analyst Ratings Changes

A number of research firms have weighed in on FIGR. The Goldman Sachs Group decreased their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Sanford C. Bernstein decreased 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 research report on Monday, March 30th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.63.

About Figure Technology Solutions

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.