Figure Technology Solutions (NASDAQ:FIGR) CEO Sells $73,176.93 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 2,031 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total transaction of $73,176.93. Following the completion of the transaction, the chief executive officer directly owned 3,193,641 shares in the company, valued at $115,066,885.23. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Michael Benjamin Tannenbaum sold 14,871 shares of Figure Technology Solutions stock. The stock was sold at an average price of $37.27, for a total transaction of $554,242.17.
• On Wednesday, April 29th, Michael Benjamin Tannenbaum sold 56,825 shares of Figure Technology Solutions stock. The stock was sold at an average price of $31.97, for a total transaction of $1,816,695.25.
• On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The stock was sold at an average price of $33.35, for a total transaction of $4,247,756.15.

Figure Technology Solutions Trading Down 1.3%

NASDAQ FIGR opened at $33.95 on Friday. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The company has a current ratio of 1.90, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.20 billion and a PE ratio of 58.53. The firm’s fifty day simple moving average is $35.11 and its 200-day simple moving average is $40.16.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. As a group, sell-side analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Figure Technology Solutions declared that its board has approved a stock buyback program on Thursday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Figure Technology Solutions

A number of hedge funds have recently bought and sold shares of the company. WPG Advisers LLC boosted its holdings in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after acquiring an additional 388 shares during the period. State of Wyoming boosted its holdings in Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after acquiring an additional 498 shares during the period. Arcus Capital Partners LLC boosted its holdings in Figure Technology Solutions by 7.9% during the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after acquiring an additional 541 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $25,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Figure Technology Solutions by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after buying an additional 616 shares during the period.

Wall Street Analyst Weigh In

Several research firms have commented on FIGR. Mizuho increased their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. The Goldman Sachs Group lowered their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Finally, Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Two equities research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.63.

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.