Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CFO Sells $274,057.02 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the completion of the sale, the chief financial officer owned 507,651 shares in the company, valued at approximately $15,259,989.06. This trade represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Minchung Kgil also recently made the following trade(s):

• On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.25, for a total value of $258,000.00.

Figure Technology Solutions Price Performance

Shares of Figure Technology Solutions stock opened at $28.55 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $34.04 and a 200 day moving average price of $39.26. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The firm has a market cap of $5.21 billion and a P/E ratio of 49.22.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. On average, sell-side analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

FIGR has been the topic of a number of research reports. Mizuho increased their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. The Goldman Sachs Group decreased 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. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein cut their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Figure Technology Solutions has an average rating of “Moderate Buy” and a consensus target price of $53.62.

Institutional Investors Weigh In On Figure Technology Solutions

Several large investors have recently added to or reduced their stakes in FIGR. Ameritas Advisory Services LLC bought a new stake in Figure Technology Solutions in the third quarter valued at $200,000. PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions during the third quarter worth about $73,000. JPMorgan Chase & Co. acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter worth about $15,529,000. Vanguard Group Inc. bought a new stake in Figure Technology Solutions in the 3rd quarter valued at about $91,751,000. Finally, Zweig DiMenna Associates LLC bought a new stake in Figure Technology Solutions in the 3rd quarter valued at about $10,711,000.

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.