Sachin Chand Jaitly Sells 216,713 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director Sachin Chand Jaitly sold 216,713 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total value of $7,290,225.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Figure Technology Solutions Price Performance

FIGR stock traded down $1.94 during midday trading on Thursday, reaching $36.14. The company had a trading volume of 4,423,800 shares, compared to its average volume of 7,636,291. The company’s 50-day moving average is $46.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The firm’s quarterly revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions declared that its Board of Directors has approved a share repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FIGR shares. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Bank of America downgraded shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a report on Tuesday, February 3rd. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Needham & Company LLC decreased their price objective on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Zacks Research cut shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Two investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.63.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. WMS Group LLC bought a new stake in Figure Technology Solutions during the fourth quarter valued at about $300,000. Bank of Hawaii purchased a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $1,087,000. Invesco Ltd. lifted its stake in shares of Figure Technology Solutions by 66.5% in the 4th quarter. Invesco Ltd. now owns 1,165,385 shares of the company’s stock valued at $47,594,000 after purchasing an additional 465,606 shares during the period. Alpine Woods Capital Investors LLC purchased a new position in Figure Technology Solutions during the fourth quarter worth approximately $1,897,000. Finally, Prana Capital Management LP acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $2,617,000.

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.