Figure Technology Solutions (NASDAQ:FIGR) CFO Minchung Kgil Sells 8,000 Shares

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 8,000 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $32.25, for a total value of $258,000.00. Following the sale, the chief financial officer owned 548,098 shares of the company’s stock, valued at $17,676,160.50. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figure Technology Solutions Stock Performance

Shares of NASDAQ:FIGR opened at $32.91 on Tuesday. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The business has a 50-day moving average of $33.33 and a two-hundred day moving average of $40.60. The firm has a market capitalization of $5.84 billion and a PE ratio of 82.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20.

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 the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The firm’s revenue for the quarter was up 90.7% on a year-over-year basis. As a group, research analysts forecast that Figure Technology Solutions, Inc. will post 0.93 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Sanford C. Bernstein lowered their target price on 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. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. The Goldman Sachs Group lowered 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 report on Monday, March 2nd. Finally, Mizuho lowered their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, March 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.75.

Institutional Investors Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in Figure Technology Solutions during the 4th quarter worth approximately $25,000. Strs Ohio purchased a new stake in Figure Technology Solutions during the 4th quarter worth approximately $34,000. MetLife Investment Management LLC purchased a new stake in Figure Technology Solutions during the 4th quarter worth approximately $35,000. Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions during the 4th quarter worth $40,000. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions during the 4th quarter worth $41,000.

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.