Figure Technology Solutions (NASDAQ:FIGR) Insider Sells $1,495,257.00 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) insider David Todd Stevens sold 47,650 shares of Figure Technology Solutions stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the sale, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $36.06 on Friday. Figure Technology Solutions, Inc. has a 12-month low of $24.11 and a 12-month high of $78.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.90. The firm has a market capitalization of $6.70 billion and a price-to-earnings ratio of 38.77. The business has a 50 day simple moving average of $29.90 and a 200 day simple moving average of $32.97.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share 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 firm had revenue of $218.45 million for the quarter. On average, equities research analysts anticipate that Figure Technology Solutions, Inc. will post 1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FIGR. Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Mizuho upped their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Piper Sandler lowered their price objective on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Finally, Sanford C. Bernstein boosted their target price on Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.62.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Duquesne Family Office LLC acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $76,989,000. Fred Alger Management LLC acquired a new stake in Figure Technology Solutions during the fourth quarter valued at approximately $67,386,000. Pantera Capital Partners LP acquired a new stake in Figure Technology Solutions during the third quarter valued at approximately $56,114,000. Balyasny Asset Management L.P. bought a new stake in Figure Technology Solutions during the third quarter worth approximately $36,087,000. Finally, Alliancebernstein L.P. acquired a new position in Figure Technology Solutions in the third quarter worth approximately $34,626,000.

Figure Technology Solutions Company Profile

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.