Figure Technology Solutions (NASDAQ:FIGR) Issues Earnings Results, Misses Expectations By $0.07 EPS

Figure Technology Solutions (NASDAQ:FIGR) released its quarterly earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock traded down $0.62 during trading on Thursday, hitting $34.04. 5,404,524 shares of the stock were exchanged, compared to its average volume of 4,912,833. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. Figure Technology Solutions has a 12 month low of $28.37 and a 12 month high of $78.00. The company has a fifty day moving average of $48.46. The stock has a market cap of $5.99 billion and a PE ratio of 100.12.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FIGR. Weiss Ratings lowered Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $71.00 price objective on shares of Figure Technology Solutions in a research note on Thursday, February 5th. The Goldman Sachs Group raised their price objective on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Bank of America lowered shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 3rd. Finally, Mizuho boosted their price objective on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.50.

Insider Activity

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total transaction of $3,161,713.12. Following the completion of the transaction, the chief executive officer directly owned 3,641,903 shares of the company’s stock, valued at $127,903,633.36. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Todd Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the completion of the sale, the insider owned 489,000 shares in the company, valued at $17,222,580. The trade was a 7.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 723,136 shares of company stock worth $27,113,723 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter worth $25,000. Wells Fargo & Company MN lifted its holdings in Figure Technology Solutions by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock worth $753,000 after purchasing an additional 616 shares during the period. MetLife Investment Management LLC bought a new position in Figure Technology Solutions in the 4th quarter valued at about $35,000. Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions during the 4th quarter valued at about $41,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Figure Technology Solutions by 69.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,379 shares of the company’s stock worth $138,000 after buying an additional 1,379 shares in the last quarter.

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.