Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CFO Sells $258,000.00 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $32.25, for a total transaction of $258,000.00. Following the sale, the chief financial officer directly owned 548,098 shares of the company’s stock, valued at approximately $17,676,160.50. This trade represents a 1.44% decrease in their position. The sale 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.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $33.27 on Thursday. The company has a market cap of $6.04 billion and a PE ratio of 83.18. 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 company has a 50 day moving average of $33.24 and a 200-day moving average of $40.49. 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 issued 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 company had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The firm’s quarterly revenue was up 90.7% on a year-over-year basis. As a group, equities research analysts forecast that Figure Technology Solutions, Inc. will post 0.93 earnings per share for the current fiscal year.

Figure Technology Solutions declared that its Board of Directors has approved a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Figure Technology Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions in the 4th quarter valued at approximately $25,000. Wells Fargo & Company MN increased its position in Figure Technology Solutions by 3.5% in the 4th 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 period. Strs Ohio acquired a new position in Figure Technology Solutions in the 4th quarter valued at approximately $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions in the 4th quarter valued at approximately $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions in the 4th quarter valued at approximately $40,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings downgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, April 24th. Finally, Sanford C. Bernstein dropped their price objective on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.75.

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.