Figure Technology Solutions (NASDAQ:FIGR) Insider Sells $1,591,650.16 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) insider David Todd Stevens sold 49,708 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total value of $1,591,650.16. Following the sale, the insider directly owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Todd Stevens also recently made the following trade(s):

• On Wednesday, February 18th, David Todd Stevens sold 26,057 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00.

Figure Technology Solutions Stock Down 3.1%

FIGR traded down $1.08 during trading on Monday, hitting $33.21. 4,102,563 shares of the company traded hands, compared to its average volume of 5,870,032. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The firm’s fifty day moving average price is $43.78. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $5.89 billion and a price-to-earnings ratio of 83.03.

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 the consensus estimate of $0.13 by ($0.07). The business had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The business’s revenue for the quarter was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its Board of Directors has initiated a stock buyback program on Thursday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Sanford C. Bernstein upped their price objective on Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Zacks Research downgraded Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Mizuho decreased their price objective on Figure Technology Solutions from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, March 10th. Finally, Bank of America cut Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Figure Technology Solutions has an average rating of “Moderate Buy” and an average target price of $55.63.

Hedge Funds Weigh In On Figure Technology Solutions

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in Figure Technology Solutions during the third quarter worth about $8,183,000. Lisanti Capital Growth LLC purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at about $3,780,000. JPMorgan Chase & Co. bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $15,529,000. BIT Capital GmbH bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $7,718,000. Finally, Fidelity National Financial Inc. purchased a new position in shares of Figure Technology Solutions during the third quarter worth about $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.