Key Points
- CEO Michael Benjamin Tannenbaum sold shares of Figure Technology Solutions, including 14,871 shares on May 19 for about $554,242, followed by additional sales on May 20 and in late April. The May 19 sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock fell 5.5% and opened at $34.38, with the company now valued at about $6.28 billion. FIGR remains below its 200-day moving average of $40.21 but above its 52-week low of $25.01.
- Figure reported a slight earnings beat in its latest quarterly results, posting EPS of $0.18 versus estimates of $0.17 on revenue of $166.84 million. The company also has a $200 million share buyback authorization, and analysts currently rate the stock a “Moderate Buy” with an average price target of $53.63.
Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CEO Michael Benjamin Tannenbaum sold 2,031 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total value of $73,176.93. Following the transaction, the chief executive officer directly owned 3,193,641 shares in the company, valued at $115,066,885.23. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Benjamin Tannenbaum also recently made the following trade(s):
- On Tuesday, May 19th, Michael Benjamin Tannenbaum sold 14,871 shares of Figure Technology Solutions stock. The stock was sold at an average price of $37.27, for a total value of $554,242.17.
- On Wednesday, April 29th, Michael Benjamin Tannenbaum sold 56,825 shares of Figure Technology Solutions stock. The shares were sold at an average price of $31.97, for a total value of $1,816,695.25.
- On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The shares were sold at an average price of $33.35, for a total value of $4,247,756.15.
Figure Technology Solutions Stock Performance
Shares of Figure Technology Solutions stock opened at $34.38 on Friday. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The business's fifty day simple moving average is $35.19 and its 200-day simple moving average is $40.21. The firm has a market cap of $6.28 billion and a PE ratio of 59.28. The company has a quick ratio of 2.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Equities analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.
Figure Technology Solutions announced that its board has initiated a stock buyback plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
FIGR has been the subject of a number of analyst reports. Sanford C. Bernstein lowered 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. Zacks Research raised Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Mizuho lifted their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Needham & Company LLC restated a "buy" rating and set a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Figure Technology Solutions from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $53.63.
View Our Latest Stock Analysis on FIGR
Institutional Trading of Figure Technology Solutions
Hedge funds and other institutional investors have recently bought and sold shares of the company. CTC Alternative Strategies Ltd. purchased a new stake in shares of Figure Technology Solutions in the first quarter valued at $511,000. Vestor Capital LLC boosted its holdings in Figure Technology Solutions by 2,908.7% in the 1st quarter. Vestor Capital LLC now owns 81,234 shares of the company's stock worth $2,758,000 after acquiring an additional 78,534 shares during the period. Feynman Point Asset Management LLC purchased a new position in shares of Figure Technology Solutions in the first quarter valued at $2,865,000. Royal Bank of Canada increased its position in shares of Figure Technology Solutions by 47.8% during the first quarter. Royal Bank of Canada now owns 35,749 shares of the company's stock worth $1,214,000 after acquiring an additional 11,560 shares during the last quarter. Finally, Regal Partners Ltd purchased a new stake in Figure Technology Solutions during the 1st quarter worth approximately $2,399,000.
Figure Technology Solutions Company Profile
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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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