Key Points
- Figure Technology Solutions CFO Minchung Kgil sold 9,117 shares on June 15 at an average price of $30.06, totaling about $274,057. After the sale, Kgil still held 507,651 shares valued at roughly $15.26 million.
- The stock has been under pressure, opening at $27.40 with a 50-day average of $34.20 and a 200-day average of $39.39. It remains well below its 52-week high of $78.00 but above its low of $25.01.
- Figure recently beat quarterly EPS estimates with $0.18 per share versus $0.17 expected, and analysts currently rate the stock a consensus “Moderate Buy” with a target price of $53.63. The company also has a $200 million share repurchase authorization in place.
Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CFO Minchung Kgil sold 9,117 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the sale, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Minchung Kgil also recently made the following trade(s):
- On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $32.25, for a total value of $258,000.00.
Figure Technology Solutions Price Performance
Shares of FIGR stock opened at $27.40 on Thursday. The stock's fifty day simple moving average is $34.20 and its 200 day simple moving average is $39.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $5.00 billion and a price-to-earnings ratio of 47.24. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. On average, analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.
Figure Technology Solutions declared that its board has approved a share repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have commented on FIGR shares. Bank of America reduced their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Mizuho boosted their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Weiss Ratings raised Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. Zacks Research raised Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research note 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 on the stock in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.63.
View Our Latest Report on FIGR
Institutional Investors Weigh In On Figure Technology Solutions
Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth $25,000. Strs Ohio bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth $34,000. MetLife Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth $35,000. WPG Advisers LLC raised its position in shares of 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 acquiring an additional 388 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth $40,000.
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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