Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CEO Sells $3,161,713.12 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 90,026 shares of the company’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 transaction, the chief executive officer directly owned 3,641,903 shares of the company’s stock, valued at approximately $127,903,633.36. This represents a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Michael Benjamin Tannenbaum also recently made the following trade(s):

• On Tuesday, December 2nd, Michael Benjamin Tannenbaum sold 60,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $35.22, for a total transaction of $2,113,200.00.
• On Tuesday, November 25th, Michael Benjamin Tannenbaum sold 29,437 shares of Figure Technology Solutions stock. The stock was sold at an average price of $34.16, for a total transaction of $1,005,567.92.
• On Monday, November 24th, Michael Benjamin Tannenbaum sold 100,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $35.82, for a total transaction of $3,582,000.00.
• On Tuesday, November 18th, Michael Benjamin Tannenbaum sold 908,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $39.19, for a total transaction of $35,584,520.00.
• On Friday, September 12th, Michael Benjamin Tannenbaum sold 297,171 shares of Figure Technology Solutions stock. The stock was sold at an average price of $25.00, for a total value of $7,429,275.00.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $39.00 on Friday. The firm has a fifty day moving average price of $39.30. Figure Technology Solutions, Inc. has a twelve month low of $30.01 and a twelve month high of $49.50.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.16 by $0.18. The firm had revenue of $156.03 million for the quarter.

Institutional Trading of Figure Technology Solutions

Hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC acquired a new position in shares of Figure Technology Solutions during the third quarter worth $721,000. Exchange Traded Concepts LLC purchased a new stake in Figure Technology Solutions during the 3rd quarter worth $5,963,000. Blue Trust Inc. acquired a new position in Figure Technology Solutions in the 3rd quarter worth $64,000. Hennessy Advisors Inc. purchased a new position in Figure Technology Solutions in the 3rd quarter valued at about $255,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Figure Technology Solutions during the third quarter worth about $1,412,000.

Wall Street Analyst Weigh In

FIGR has been the topic of several research reports. Piper Sandler raised their price target on shares of Figure Technology Solutions from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Sanford C. Bernstein began coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They issued an “outperform” rating and a $54.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $51.00 target price on shares of Figure Technology Solutions in a research note on Monday, November 17th. Mizuho lifted their target price on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Finally, Weiss Ratings assumed coverage on Figure Technology Solutions in a report on Thursday. They issued a “sell (d+)” rating for the company. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

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.