Key Points
- Figure Technology Solutions CFO Minchung Kgil sold 8,000 shares at an average price of $38.69, generating $309,520. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.63% to 483,651 shares.
- FIGR shares opened at $37.08, with a $6.88 billion market capitalization, and remain well below their 52-week high of $78.00. The stock has a price-to-earnings ratio of 39.87.
- The company recently beat quarterly earnings expectations, reporting $0.35 in EPS versus the $0.24 consensus estimate on revenue of $218.45 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $50.62.
Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CFO Minchung Kgil sold 8,000 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares in the company, valued at $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Minchung Kgil also recently made the following trade(s):
- On Wednesday, August 12th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $30.03, for a total value of $120,120.00.
- On Friday, July 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $28.13, for a total value of $112,520.00.
- On Tuesday, June 30th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.03, for a total transaction of $120,120.00.
- On Wednesday, June 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $27.64, for a total transaction of $110,560.00.
- On Monday, June 15th, Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02.
Figure Technology Solutions Stock Down 9.9%
Shares of Figure Technology Solutions stock opened at $37.08 on Thursday. The company has a 50-day simple moving average of $30.74 and a two-hundred day simple moving average of $32.80. The stock has a market capitalization of $6.88 billion and a PE ratio of 39.87. Figure Technology Solutions, Inc. has a 52-week low of $24.11 and a 52-week high of $78.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86.
Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. On average, analysts anticipate that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have commented on FIGR. Mizuho lifted their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Wall Street Zen upgraded Figure Technology Solutions from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Piper Sandler reduced their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings raised Figure Technology Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Finally, Sanford C. Bernstein raised their price objective on Figure Technology Solutions from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $50.62.
Check Out Our Latest Stock Report on Figure Technology Solutions
Hedge Funds Weigh In On Figure Technology Solutions
A number of large investors have recently bought and sold shares of FIGR. J Digital 6 LLC boosted its holdings in shares of Figure Technology Solutions by 9.1% in the 4th quarter. J Digital 6 LLC now owns 3,276,587 shares of the company's stock valued at $133,816,000 after buying an additional 274,145 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Figure Technology Solutions by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company's stock worth $121,493,000 after acquiring an additional 452,136 shares in the last quarter. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $76,989,000. Fred Alger Management LLC purchased a new stake in Figure Technology Solutions during the fourth quarter valued at approximately $67,386,000. Finally, Pantera Capital Partners LP purchased a new stake in Figure Technology Solutions during the third quarter valued at approximately $56,114,000.
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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