Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) insider David Todd Stevens sold 49,708 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total value of $1,591,650.16. Following the transaction, the insider owned 436,089 shares of the company's stock, valued at approximately $13,963,569.78. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
David Todd Stevens also recently made the following trade(s):
- On Wednesday, February 18th, David Todd Stevens sold 26,057 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00.
Figure Technology Solutions Trading Down 3.1%
Shares of NASDAQ:FIGR opened at $33.21 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $43.40. The company has a market capitalization of $5.89 billion and a price-to-earnings ratio of 83.03. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). The business had revenue of $157.63 million for the quarter, compared to analysts' expectations of $158.00 million. The business's quarterly revenue was up 90.7% compared to the same quarter last year.
Figure Technology Solutions announced that its board has authorized a stock buyback program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions during the fourth quarter worth approximately $25,000. Wells Fargo & Company MN increased its position in Figure Technology Solutions by 3.5% in the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company's stock valued at $753,000 after acquiring an additional 616 shares during the period. Strs Ohio bought a new stake in Figure Technology Solutions during the 4th quarter valued at $34,000. MetLife Investment Management LLC bought a new stake in Figure Technology Solutions during the 4th quarter valued at $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions during the 4th quarter worth $40,000.
Analyst Upgrades and Downgrades
A number of research firms recently commented on FIGR. Texas Capital upgraded Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, January 29th. The Goldman Sachs Group cut their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Bank of America lowered Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research report on Tuesday, February 3rd. Needham & Company LLC decreased their target price on Figure Technology Solutions from $71.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Finally, Sanford C. Bernstein upped their price target on Figure Technology Solutions from $54.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Figure Technology Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $55.63.
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Figure Technology Solutions Company Profile
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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.
Further Reading
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