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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 4,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $27.64, for a total transaction of $110,560.00. Following the sale, the chief financial officer owned 503,651 shares in the company, valued at $13,920,913.64. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 transaction of $274,057.02.
• On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.25, for a total transaction of $258,000.00.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $26.86 on Friday. The firm’s 50 day simple moving average is $33.33 and its 200 day simple moving average is $38.94. The firm has a market capitalization of $4.91 billion and a price-to-earnings ratio of 46.31. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. 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 released its earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million for the quarter. As a group, research analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FIGR has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. 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 report on Thursday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Bank of America dropped their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.62.

Hedge Funds Weigh In On Figure Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in FIGR. Orland Properties Ltd acquired a new stake in Figure Technology Solutions during the 3rd quarter valued at approximately $319,187,000. J Digital 6 LLC lifted its position in shares of Figure Technology Solutions by 9.1% in the 4th quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after purchasing an additional 274,145 shares during the period. Vanguard Group Inc. boosted its stake in shares of Figure Technology Solutions by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after purchasing an additional 452,136 shares during the last quarter. Duquesne Family Office LLC acquired a new stake in shares of Figure Technology Solutions during the third quarter worth $76,989,000. Finally, Fred Alger Management LLC bought a new position in Figure Technology Solutions during the fourth quarter worth $67,386,000.

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.