Figure Technology Solutions (NASDAQ:FIGR) CFO Sells 8,000 Shares of Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 8,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer owned 483,651 shares of the company’s stock, valued at $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.03, for a total value of $120,120.00.
• On Friday, July 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $28.13, for a total value of $112,520.00.
• On Tuesday, June 30th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $30.03, for a total value of $120,120.00.
• On Wednesday, June 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $27.64, for a total value of $110,560.00.
• On Monday, June 15th, Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.06, for a total value of $274,057.02.

Figure Technology Solutions Stock Performance

Shares of FIGR stock traded down $4.06 during trading on Wednesday, reaching $37.08. 5,136,707 shares of the company’s stock were exchanged, compared to its average volume of 4,621,923. Figure Technology Solutions, Inc. has a twelve month low of $24.11 and a twelve month high of $78.00. The firm’s fifty day moving average price is $30.54 and its 200-day moving average price is $32.82. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.88 billion and a PE ratio of 39.87.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The business had revenue of $218.45 million during the quarter. As a group, sell-side analysts anticipate that Figure Technology Solutions, Inc. will post 1.18 EPS for the current year.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in Figure Technology Solutions during the 4th quarter worth $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions during the 4th quarter worth $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter worth $35,000. WPG Advisers LLC raised its stake in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after purchasing an additional 388 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions in the fourth quarter valued at about $41,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FIGR shares. Keefe, Bruyette & Woods reduced their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Zacks Research raised shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research report on Thursday, August 20th. Piper Sandler decreased their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $50.62.

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.