Minchung Kgil Sells 4,000 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $28.13, for a total value of $112,520.00. Following the completion of the transaction, the chief financial officer owned 495,651 shares of the company’s stock, valued at approximately $13,942,662.63. This represents a 0.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 30th, 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 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 shares were sold at an average price of $30.06, for a total value of $274,057.02.

Figure Technology Solutions Trading Down 9.5%

Shares of FIGR stock opened at $24.93 on Thursday. Figure Technology Solutions, Inc. has a 1-year low of $24.90 and a 1-year high of $78.00. The company has a market cap of $4.55 billion and a price-to-earnings ratio of 42.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50 day simple moving average of $30.38 and a 200-day simple moving average of $36.70.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. On average, equities research analysts expect that Figure Technology Solutions, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FIGR. Keefe, Bruyette & Woods cut 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 research note on Monday, July 13th. Bank of America lowered their price objective on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Wall Street Zen lowered Figure Technology Solutions from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Piper Sandler dropped their price target on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.25.

Institutional Trading of Figure Technology Solutions

Large investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted its holdings in shares of Figure Technology Solutions by 69.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company’s stock worth $2,773,000 after purchasing an additional 27,893 shares during the last quarter. UBS Group AG increased its holdings in shares of Figure Technology Solutions by 322.9% in the fourth quarter. UBS Group AG now owns 885,977 shares of the company’s stock valued at $36,183,000 after purchasing an additional 676,470 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Figure Technology Solutions during the fourth quarter worth approximately $5,041,000. Vanguard Group Inc. lifted its position in Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after buying an additional 452,136 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth $1,416,000.

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.