Investors Buy Large Volume of Call Options on Figure Technology Solutions (NASDAQ:FIGR)

Figure Technology Solutions, Inc. (NASDAQ:FIGR) was the recipient of some unusual options trading on Monday. Traders bought 21,270 call options on the stock. This is an increase of approximately 106% compared to the average daily volume of 10,349 call options.

Insider Activity

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the transaction, the chief executive officer owned 3,250,466 shares of the company’s stock, valued at approximately $108,403,041.10. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was 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 directly owned 507,651 shares of the company’s stock, valued at $15,259,989.06. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 479,337 shares of company stock valued at $16,910,863 in the last 90 days. 26.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WPG Advisers LLC boosted its stake in shares of 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 buying an additional 388 shares during the period. State of Wyoming boosted its holdings in Figure Technology Solutions by 14.8% in the first quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after purchasing an additional 498 shares in the last quarter. Arcus Capital Partners LLC grew its position in shares of Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after buying an additional 541 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions in the fourth quarter valued at $25,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Figure Technology Solutions by 3.5% during 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 last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods cut their price target 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. Wall Street Zen lowered shares of Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Mizuho increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

Figure Technology Solutions Trading Down 6.5%

NASDAQ FIGR traded down $2.06 during trading hours on Monday, reaching $29.74. The company had a trading volume of 2,891,924 shares, compared to its average volume of 4,796,860. 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 $5.43 billion and a P/E ratio of 51.28. The stock has a 50-day moving average of $32.82 and a 200 day moving average of $38.32. Figure Technology Solutions has a 1-year low of $25.01 and a 1-year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly 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 company had revenue of $166.84 million for the quarter. As a group, research analysts anticipate that Figure Technology Solutions will post 0.89 earnings per share for the current fiscal year.

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.