Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) CEO Michael Benjamin Tannenbaum sold 14,871 shares of Figure Technology Solutions stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $37.27, for a total transaction of $554,242.17. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $119,027,000.07. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Benjamin Tannenbaum also recently made the following trade(s):
- On Wednesday, May 20th, Michael Benjamin Tannenbaum sold 2,031 shares of Figure Technology Solutions stock. The shares were sold at an average price of $36.03, for a total transaction of $73,176.93.
- On Wednesday, April 29th, Michael Benjamin Tannenbaum sold 56,825 shares of Figure Technology Solutions stock. The shares were sold at an average price of $31.97, for a total transaction of $1,816,695.25.
- On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15.
Figure Technology Solutions Stock Down 5.5%
NASDAQ FIGR traded down $2.02 during mid-day trading on Thursday, hitting $34.38. The company’s stock had a trading volume of 4,104,664 shares, compared to its average volume of 5,077,227. The company has a current ratio of 1.90, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20. The company’s 50 day simple moving average is $35.30 and its 200 day simple moving average is $40.24. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00. The firm has a market capitalization of $6.28 billion and a price-to-earnings ratio of 59.28.
Figure Technology Solutions declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Hedge Funds Weigh In On Figure Technology Solutions
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vestor Capital LLC raised its position in shares of Figure Technology Solutions by 2,908.7% in the first quarter. Vestor Capital LLC now owns 81,234 shares of the company’s stock valued at $2,758,000 after purchasing an additional 78,534 shares during the period. Feynman Point Asset Management LLC purchased a new stake in shares of Figure Technology Solutions during the 1st quarter valued at approximately $2,865,000. Royal Bank of Canada boosted its holdings in Figure Technology Solutions by 47.8% in the 1st quarter. Royal Bank of Canada now owns 35,749 shares of the company’s stock worth $1,214,000 after buying an additional 11,560 shares during the period. Regal Partners Ltd purchased a new position in Figure Technology Solutions in the 1st quarter valued at approximately $2,399,000. Finally, The Manufacturers Life Insurance Company grew its stake in Figure Technology Solutions by 660.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 42,717 shares of the company’s stock valued at $1,450,000 after buying an additional 37,100 shares in the last quarter.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Sanford C. Bernstein dropped their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Bank of America dropped their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. 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, May 13th. Finally, Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.
Check Out Our Latest Report on Figure Technology Solutions
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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