Key Points
- Director Michael Scott Cagney sold 35,190 shares of Figure Technology Solutions at an average price of $38.20, totaling about $1.34 million. The sale, made under a pre-arranged 10b5-1 plan, cut his direct ownership by 50%.
- Figure Technology Solutions recently reported quarterly EPS of $0.18, topping analyst expectations by a penny, on revenue of $166.84 million. The company also announced a $200 million share repurchase plan, which can signal management sees the stock as undervalued.
- Analysts remain broadly constructive on FIGR, with recent ratings and target increases including Mizuho’s raise to $55 and Needham’s reiterated Buy. MarketBeat data shows a consensus rating of Moderate Buy and an average price target of $53.63.
Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) Director Michael Scott Cagney sold 35,190 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the sale, the director directly owned 35,190 shares of the company's stock, valued at approximately $1,344,258. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Scott Cagney also recently made the following trade(s):
- On Wednesday, April 15th, Michael Scott Cagney sold 67,840 shares of Figure Technology Solutions stock. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60.
Figure Technology Solutions Trading Up 0.1%
Shares of FIGR opened at $43.28 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00. The company has a 50 day simple moving average of $34.97 and a two-hundred day simple moving average of $40.36. The firm has a market cap of $7.86 billion and a P/E ratio of 108.20.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, equities analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.
Figure Technology Solutions announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Key Headlines Impacting Figure Technology Solutions
Here are the key news stories impacting Figure Technology Solutions this week:
- Positive Sentiment: Mizuho raised its price target on Figure Technology Solutions to $55 from $45 and kept an Outperform rating, signaling confidence in further upside for the stock. Mizuho Raises Figure Technology Solutions Price Target
- Positive Sentiment: Needham & Company reiterated a Buy rating on FIGR, reinforcing a constructive outlook from analysts. Needham & Company Buy Rating on Figure Technology Solutions
- Positive Sentiment: Recent coverage highlighted CEO Michael Tannenbaum’s comments on AI, blockchain, and growth opportunities, which may support investor optimism around the company’s long-term strategy. CEO Interview on AI, Blockchain and Capital Markets
- Neutral Sentiment: Market commentary compared FIGR’s year-to-date performance with other business services names, suggesting investors are still benchmarking the stock against its peers. FIGR vs. Peer Performance Article
- Negative Sentiment: Director Michael Scott Cagney sold 35,190 shares in a pre-arranged 10b5-1 transaction, reducing his position by 50%, which can weigh on sentiment despite the planned nature of the trade.
- Negative Sentiment: Director June Ou sold 35,190 shares in another pre-arranged 10b5-1 sale, adding to insider selling pressure on the stock.
- Negative Sentiment: Insider David Todd Stevens sold 47,064 shares, trimming his ownership by about 10.4%, which may raise caution even though the sale was also under a trading plan.
Wall Street Analyst Weigh In
FIGR has been the subject of a number of recent research reports. Texas Capital raised shares of Figure Technology Solutions to a "strong-buy" rating in a report on Thursday, January 29th. Sanford C. Bernstein cut their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 30th. Bank of America cut their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Needham & Company LLC reissued a "buy" rating and issued a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday. Finally, Mizuho raised their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.63.
Get Our Latest Report on FIGR
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. WPG Advisers LLC boosted its stake in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock worth $32,000 after buying an additional 388 shares during the period. State of Wyoming boosted its stake in Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company's stock worth $131,000 after buying an additional 498 shares during the period. Arcus Capital Partners LLC boosted its stake 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 worth $251,000 after buying an additional 541 shares during the period. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions during the fourth quarter worth $25,000. Finally, Wells Fargo & Company MN boosted its stake in Figure Technology Solutions by 3.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company's stock worth $753,000 after buying an additional 616 shares during the period.
About Figure Technology Solutions
(
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.
Further Reading
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