Figure Technology Solutions (NASDAQ:FIGR) CFO Sells $274,057.02 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 9,117 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the sale, the chief financial officer owned 507,651 shares in the company, valued at $15,259,989.06. The trade was a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Minchung Kgil also recently made the following trade(s):

• On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.25, for a total transaction of $258,000.00.

Figure Technology Solutions Stock Down 7.6%

Shares of NASDAQ FIGR traded down $2.25 during midday trading on Wednesday, reaching $27.40. The company’s stock had a trading volume of 5,619,559 shares, compared to its average volume of 4,825,226. The stock has a 50 day simple moving average of $34.30 and a 200-day simple moving average of $39.44. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.00 billion and a price-to-earnings ratio of 47.24. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. Equities research analysts predict that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 19th. Mizuho boosted their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. 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. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter valued at $25,000. Strs Ohio bought a new stake in shares of Figure Technology Solutions during the 4th quarter worth about $34,000. MetLife Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter worth about $35,000. WPG Advisers LLC raised its holdings 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 during the period. Finally, Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions in the 4th quarter valued at about $40,000.

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.