Michael Benjamin Tannenbaum Sells 56,825 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 56,825 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $31.97, for a total transaction of $1,816,695.25. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at $102,100,702.77. This trade represents a 1.75% decrease in their position. The sale was disclosed in a filing 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.

Michael Benjamin Tannenbaum also recently made the following trade(s):

• 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 Up 5.5%

NASDAQ:FIGR traded up $1.83 during trading hours on Thursday, hitting $35.10. The stock had a trading volume of 3,342,856 shares, compared to its average volume of 3,733,763. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The business has a 50 day simple moving average of $33.28 and a two-hundred day simple moving average of $40.46. The company has a market cap of $6.38 billion and a PE ratio of 87.75.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share (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 the consensus estimate of $158.00 million. Figure Technology Solutions’s quarterly revenue was up 90.7% on a year-over-year basis. Analysts predict that Figure Technology Solutions, Inc. will post 0.93 EPS for the current year.

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

Institutional Trading of Figure Technology Solutions

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Figure Technology Solutions during the fourth quarter worth approximately $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions during the fourth quarter worth approximately $34,000. MetLife Investment Management LLC acquired a new stake in shares of Figure Technology Solutions during the fourth quarter worth approximately $35,000. WPG Advisers LLC grew its position in shares of 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 buying an additional 388 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions during the fourth quarter worth $40,000.

Analyst Ratings Changes

FIGR has been the subject of several recent research reports. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group decreased their price target 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 decreased their price target on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Bank of America downgraded shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein decreased their price target 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. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.