Figure Technology Solutions (NASDAQ:FIGR) Director Sells 67,840 Shares of Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director June Ou sold 67,840 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figure Technology Solutions Stock Performance

Shares of FIGR traded up $0.94 during mid-day trading on Friday, hitting $36.67. The stock had a trading volume of 6,734,335 shares, compared to its average volume of 5,482,198. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.51 billion and a PE ratio of 91.68. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company’s fifty day simple moving average is $33.63 and its two-hundred day simple moving average is $40.99.

Figure Technology Solutions (NASDAQ:FIGR) last announced 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 company had revenue of $157.63 million during the quarter, compared to analysts’ expectations of $158.00 million. The company’s revenue was up 90.7% compared to the same quarter last year.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $25,000. Strs Ohio bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $35,000. Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $40,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $41,000.

Analyst Upgrades and Downgrades

FIGR has been the topic of a number of research reports. Mizuho dropped their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, March 26th. Bank of America cut shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 3rd. Weiss Ratings downgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. The Goldman Sachs Group dropped their price objective on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Sanford C. Bernstein reduced their target price on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of $53.75.

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.