Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $32.25, for a total value of $258,000.00. Following the completion of the transaction, the chief financial officer owned 548,098 shares of the company's stock, valued at approximately $17,676,160.50. The trade was a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Figure Technology Solutions Price Performance
Shares of FIGR opened at $32.91 on Tuesday. The firm has a market cap of $5.84 billion and a price-to-earnings ratio of 82.28. The stock has a 50 day moving average of $33.33 and a 200-day moving average of $40.60. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million during the quarter, compared to the consensus estimate of $158.00 million. The firm's revenue for the quarter was up 90.7% on a year-over-year basis. As a group, analysts forecast that Figure Technology Solutions, Inc. will post 0.93 EPS for the current year.
Figure Technology Solutions declared that its board has approved a stock buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on FIGR. Needham & Company LLC decreased their price target on shares of Figure Technology Solutions from $71.00 to $55.00 and set a "buy" rating for the company in a report on Friday, February 27th. Piper Sandler lifted their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, January 14th. Bank of America lowered shares of Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 price target for the company. in a report on Tuesday, February 3rd. Zacks Research upgraded Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Finally, Sanford C. Bernstein reduced their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Figure Technology Solutions has an average rating of "Moderate Buy" and an average price target of $53.75.
Get Our Latest Report on Figure Technology Solutions
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of FIGR. Global Retirement Partners LLC bought a new position in Figure Technology Solutions in the 4th quarter worth about $25,000. Strs Ohio bought a new position in Figure Technology Solutions in the 4th quarter worth about $34,000. MetLife Investment Management LLC bought a new position in Figure Technology Solutions in the 4th quarter worth about $35,000. Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions in the 4th quarter worth about $40,000. Finally, Johnson Financial Group Inc. bought a new stake in Figure Technology Solutions during the 4th quarter valued at $41,000.
About Figure Technology Solutions
(
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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.
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