Figure Technology Solutions (NASDAQ:FIGR) Insider Sells $1,591,650.16 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) insider David Todd Stevens sold 49,708 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the completion of the sale, the insider directly owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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 Price Performance

FIGR stock opened at $31.21 on Thursday. 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 moving average of $42.44. The company has a market capitalization of $5.54 billion and a P/E ratio of 78.03.

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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIGR. Federated Hermes Inc. bought a new stake in Figure Technology Solutions in the third quarter worth $8,183,000. Lisanti Capital Growth LLC bought a new position in shares of Figure Technology Solutions during the third quarter valued at $3,780,000. JPMorgan Chase & Co. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth about $15,529,000. BIT Capital GmbH bought a new position in Figure Technology Solutions in the 3rd quarter worth about $7,718,000. Finally, Fidelity National Financial Inc. bought a new position in Figure Technology Solutions in the 3rd quarter worth about $9,092,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FIGR shares. Mizuho reduced their price target on 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. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Weiss Ratings cut shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. Zacks Research lowered shares of Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Finally, Needham & Company LLC lowered 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. Two 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.63.

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.