Figure Technology Solutions (NASDAQ:FIGR) Shares Down 5.1% After Insider Selling

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) dropped 5.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $40.30 and last traded at $40.91. Approximately 726,025 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 7,389,095 shares. The stock had previously closed at $43.09.

Specifically, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $7,429,275.00. Following the completion of the sale, the chief executive officer owned 4,092,576 shares in the company, valued at $102,314,400. This trade represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adam Gilbert Boyden sold 468,860 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $11,721,500.00. Following the completion of the sale, the director owned 6,651,158 shares of the company’s stock, valued at $166,278,950. The trade was a 6.59% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Figure Technology Solutions to a “hold” rating in a research report on Monday.

Figure Technology Solutions Stock Down 8.1%

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.