Michael Benjamin Tannenbaum Sells 2,031 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total transaction of $73,176.93. Following the transaction, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at $115,066,885.23. The trade was a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Tuesday, May 19th, Michael Benjamin Tannenbaum sold 14,871 shares of Figure Technology Solutions stock. The shares were sold at an average price of $37.27, for a total transaction of $554,242.17.
• 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 Stock Performance

Shares of FIGR stock opened at $33.95 on Friday. The company has a quick ratio of 2.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The stock has a market capitalization of $6.20 billion and a PE ratio of 58.53. The firm has a 50 day moving average of $35.11 and a two-hundred day moving average of $40.16.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The business 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.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FIGR. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Bank of America reduced their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Finally, Mizuho raised their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Two investment 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.63.

Institutional Inflows and Outflows

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