Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) insider David Todd Stevens sold 47,064 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the sale, the insider owned 406,051 shares of the company’s stock, valued at $17,196,259.85. This represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Todd Stevens also recently made the following trade(s):
- On Thursday, March 19th, David Todd Stevens sold 49,708 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.02, for a total value of $1,591,650.16.
- On Wednesday, February 18th, David Todd Stevens sold 26,057 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.00, for a total value of $833,824.00.
Figure Technology Solutions Price Performance
Shares of FIGR stock opened at $43.28 on Friday. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00. The stock has a market capitalization of $7.86 billion and a price-to-earnings ratio of 108.20. The stock has a fifty day simple moving average of $34.97 and a two-hundred day simple moving average of $40.36. 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 announced that its Board of Directors has authorized a stock buyback program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
More Figure Technology Solutions News
Here are the key news stories impacting Figure Technology Solutions this week:
- Positive Sentiment: Mizuho raised its price target on Figure Technology Solutions to $55 from $45 and kept an Outperform rating, signaling confidence in further upside for the stock. Mizuho Raises Figure Technology Solutions Price Target
- Positive Sentiment: Needham & Company reiterated a Buy rating on FIGR, reinforcing a constructive outlook from analysts. Needham & Company Buy Rating on Figure Technology Solutions
- Positive Sentiment: Recent coverage highlighted CEO Michael Tannenbaum’s comments on AI, blockchain, and growth opportunities, which may support investor optimism around the company’s long-term strategy. CEO Interview on AI, Blockchain and Capital Markets
- Neutral Sentiment: Market commentary compared FIGR’s year-to-date performance with other business services names, suggesting investors are still benchmarking the stock against its peers. FIGR vs. Peer Performance Article
- Negative Sentiment: Director Michael Scott Cagney sold 35,190 shares in a pre-arranged 10b5-1 transaction, reducing his position by 50%, which can weigh on sentiment despite the planned nature of the trade.
- Negative Sentiment: Director June Ou sold 35,190 shares in another pre-arranged 10b5-1 sale, adding to insider selling pressure on the stock.
- Negative Sentiment: Insider David Todd Stevens sold 47,064 shares, trimming his ownership by about 10.4%, which may raise caution even though the sale was also under a trading plan.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings cut Figure Technology Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, April 24th. Finally, Mizuho upped their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.
View Our Latest Research Report on Figure Technology Solutions
Institutional Investors Weigh In On Figure Technology Solutions
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIGR. Emerald Mutual Fund Advisers Trust purchased a new stake in Figure Technology Solutions in the third quarter valued at about $1,013,000. Federated Hermes Inc. purchased a new stake in Figure Technology Solutions in the third quarter valued at about $8,183,000. TD Waterhouse Canada Inc. purchased a new stake in Figure Technology Solutions in the third quarter valued at about $2,157,000. Lisanti Capital Growth LLC purchased a new stake in Figure Technology Solutions in the third quarter valued at about $3,780,000. Finally, Mutual Advisors LLC acquired a new position in shares of Figure Technology Solutions in the third quarter valued at about $1,446,000.
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.
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