Figure Technology Solutions (NASDAQ:FIGR) Reaches New 12-Month Low on Insider Selling

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price hit a new 52-week low during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $25.00 and last traded at $24.9250, with a volume of 3570059 shares. The stock had previously closed at $27.55.

Specifically, CFO Minchung Kgil sold 4,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $28.13, for a total value of $112,520.00. Following the completion of the transaction, the chief financial officer directly owned 495,651 shares of the company’s stock, valued at approximately $13,942,662.63. This represents a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Mizuho lifted their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Piper Sandler reduced their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has 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 an average price target of $50.25.

Figure Technology Solutions Price Performance

The stock has a fifty day moving average of $30.61 and a two-hundred day moving average of $36.93. The stock has a market capitalization of $4.55 billion and a price-to-earnings ratio of 42.97. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. As a group, equities research analysts forecast that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FIGR. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions during the 4th quarter worth about $25,000. Strs Ohio bought a new stake in Figure Technology Solutions during the 4th quarter worth about $34,000. MetLife Investment Management LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at about $35,000. WPG Advisers LLC increased its position in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after acquiring an additional 388 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter worth about $40,000.

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.