Minchung Kgil Sells 4,000 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $27.64, for a total value of $110,560.00. Following the transaction, the chief financial officer owned 503,651 shares of the company’s stock, valued at $13,920,913.64. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Minchung Kgil also recently made the following trade(s):

• On Monday, June 15th, Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02.
• On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.25, for a total transaction of $258,000.00.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $26.86 on Friday. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The firm has a 50 day moving average of $33.33 and a two-hundred day moving average of $38.94. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.91 billion and a PE ratio of 46.31.

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

Hedge Funds Weigh In On Figure Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WPG Advisers LLC raised its holdings in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares in the last quarter. State of Wyoming grew its position in shares of Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after buying an additional 498 shares during the last quarter. Arcus Capital Partners LLC grew its position in shares of Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after buying an additional 541 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions during the 4th quarter worth $25,000. Finally, Wells Fargo & Company MN lifted its position in Figure Technology Solutions by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after acquiring an additional 616 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on FIGR. The Goldman Sachs Group cut their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Mizuho boosted their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Figure Technology Solutions has an average rating of “Moderate Buy” and a consensus price target of $53.62.

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.