June Ou Sells 67,840 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director June Ou sold 67,840 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figure Technology Solutions Price Performance

NASDAQ FIGR opened at $36.67 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.20 and a current ratio of 2.20. The firm’s 50 day moving average price is $33.63 and its 200-day moving average price is $41.02. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The company has a market cap of $6.51 billion and a PE ratio of 91.68.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to analysts’ expectations of $158.00 million. The business’s quarterly revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions declared that its board has initiated a share buyback plan on Thursday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FIGR. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. The Goldman Sachs Group lowered their target price 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 upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Piper Sandler raised their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Mizuho lowered their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth $25,000. Strs Ohio purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth $34,000. MetLife Investment Management LLC purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth $35,000. Flagship Harbor Advisors LLC purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth $40,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth $41,000.

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.