Key Points
- Director Michael Scott Cagney sold 67,840 shares on April 15 at an average of $35.19 for about $2.39M, cutting his stake by 50% under a pre-arranged Rule 10b5-1 plan.
- The board authorized a $200 million share buyback (up to ~3.3% of outstanding shares), suggesting management believes the stock may be undervalued.
- FIGR reported quarterly EPS of $0.06 (missing by $0.07) on revenue of $157.6M (up 90.7% YoY); the stock trades near $36.67 with a market cap of $6.51B, a P/E of 91.68, and a 12‑month range of $25.01–$78.00.
Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) Director Michael Scott Cagney sold 67,840 shares of Figure Technology Solutions stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the completion of the sale, the director directly owned 67,840 shares of the company's stock, valued at approximately $2,387,289.60. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Figure Technology Solutions Stock Performance
NASDAQ FIGR opened at $36.67 on Friday. The company has a fifty day simple moving average of $33.63 and a 200 day simple moving average of $40.99. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. 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 company has a market cap of $6.51 billion and a P/E ratio of 91.68.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) 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 business had revenue of $157.63 million for the quarter, compared to analysts' expectations of $158.00 million. The company's quarterly revenue was up 90.7% compared to the same quarter last year.
Figure Technology Solutions declared that its board has initiated a share buyback program on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Figure Technology Solutions
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIGR. Global Retirement Partners LLC bought a new stake in Figure Technology Solutions in the 4th quarter valued at about $25,000. Strs Ohio bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $34,000. MetLife Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $35,000. Flagship Harbor Advisors LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $40,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $41,000.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, February 19th. Piper Sandler boosted their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Mizuho cut their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, March 26th. Weiss Ratings downgraded shares of Figure Technology Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, February 11th. Finally, Texas Capital raised shares of Figure Technology Solutions to a "strong-buy" rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Figure Technology Solutions has a consensus rating of "Moderate Buy" and an average price target of $53.75.
View Our Latest Research Report on Figure Technology Solutions
Figure Technology Solutions Company Profile
(
Get Free Report)
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.
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