Figure Technology Solutions (NASDAQ:FIGR) Insider David Todd Stevens Sells 49,708 Shares

Figure Technology Solutions, Inc. (NASDAQ:FIGR) insider David Todd Stevens sold 49,708 shares of Figure Technology Solutions stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the completion of the transaction, the insider owned 436,089 shares in the company, valued at approximately $13,963,569.78. This trade represents a 10.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

David Todd Stevens also recently made the following trade(s):

• On Wednesday, February 18th, David Todd Stevens sold 26,057 shares of Figure Technology Solutions stock. The shares were sold at an average price of $32.00, for a total transaction of $833,824.00.

Figure Technology Solutions Stock Down 3.1%

FIGR stock opened at $33.21 on Tuesday. 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 firm has a market cap of $5.89 billion and a P/E ratio of 83.03. The business’s fifty day moving average price is $43.40. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00.

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

Figure Technology Solutions declared that its board has authorized a stock repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Figure Technology Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orland Properties Ltd purchased a new position in Figure Technology Solutions in the 3rd quarter valued at about $319,187,000. Vanguard Group Inc. purchased a new stake in shares of Figure Technology Solutions during the third quarter worth about $91,751,000. Duquesne Family Office LLC acquired a new position in shares of Figure Technology Solutions in the third quarter worth about $76,989,000. Fred Alger Management LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter worth about $67,386,000. Finally, Pantera Capital Partners LP purchased a new position in Figure Technology Solutions in the third quarter valued at about $56,114,000.

Analyst Ratings Changes

A number of analysts recently issued reports on FIGR shares. Needham & Company LLC dropped their target price 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. Sanford C. Bernstein lifted their price target on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, January 13th. The Goldman Sachs Group decreased 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. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Mizuho cut their target price on shares of Figure Technology Solutions from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and an average price target of $55.63.

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.