Investors Purchase High Volume of Figure Technology Solutions Call Options (NASDAQ:FIGR)

Figure Technology Solutions, Inc. (NASDAQ:FIGR) was the recipient of some unusual options trading on Wednesday. Investors acquired 33,905 call options on the stock. This represents an increase of approximately 276% compared to the average daily volume of 9,028 call options.

Insider Buying and Selling

In other Figure Technology Solutions news, insider David Todd Stevens sold 26,057 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $32.00, for a total transaction of $833,824.00. Following the completion of the sale, the insider owned 462,943 shares of the company’s stock, valued at $14,814,176. This represents a 5.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The SEC filing for this sale provides additional information.

Institutional Trading of Figure Technology Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in FIGR. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions during the fourth quarter valued at $25,000. Strs Ohio purchased a new stake in shares of Figure Technology Solutions in the fourth quarter worth $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions during the fourth quarter valued at $35,000. Flagship Harbor Advisors LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth about $40,000. Finally, Johnson Financial Group Inc. bought a new position in Figure Technology Solutions in the 4th quarter worth about $41,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FIGR. Mizuho dropped their target price on shares of Figure Technology Solutions from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday. Piper Sandler upped their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein increased their price objective on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $55.63.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR traded down $1.08 during mid-day trading on Friday, hitting $35.06. 3,489,200 shares of the stock traded hands, compared to its average volume of 5,920,988. The company has a market capitalization of $6.17 billion and a P/E ratio of 87.81. The stock has a fifty day moving average of $46.14. Figure Technology Solutions has a 52 week low of $25.01 and a 52 week high of $78.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $157.63 million during the quarter, compared to analyst estimates of $158.00 million. The firm’s revenue for the quarter was up 90.7% on a year-over-year basis.

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

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.