Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CEO Sells 908,000 Shares of Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 908,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $39.19, for a total value of $35,584,520.00. Following the sale, the chief executive officer directly owned 3,921,366 shares in the company, valued at $153,678,333.54. This trade represents a 18.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Michael Benjamin Tannenbaum also recently made the following trade(s):

• On Friday, September 12th, Michael Benjamin Tannenbaum sold 297,171 shares of Figure Technology Solutions stock. The stock was sold at an average price of $25.00, for a total value of $7,429,275.00.

Figure Technology Solutions Stock Performance

FIGR stock traded down $1.59 during midday trading on Thursday, hitting $35.61. 3,156,860 shares of the stock traded hands, compared to its average volume of 3,349,662. Figure Technology Solutions, Inc. has a 1-year low of $30.01 and a 1-year high of $49.50. The company’s fifty day moving average is $40.30.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The firm had revenue of $156.03 million during the quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FIGR. Zacks Research raised shares of Figure Technology Solutions to a “hold” rating in a report on Tuesday, October 7th. The Goldman Sachs Group raised their price objective on Figure Technology Solutions from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Piper Sandler increased their target price on shares of Figure Technology Solutions from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group assumed coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Figure Technology Solutions to a “hold” rating in a report on Monday, September 22nd. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Institutional Investors Weigh In On Figure Technology Solutions

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in Figure Technology Solutions in the third quarter worth $64,000. SBI Securities Co. Ltd. bought a new position in Figure Technology Solutions during the 3rd quarter valued at about $66,000. PNC Financial Services Group Inc. bought a new stake in Figure Technology Solutions during the 3rd quarter valued at $73,000. BNP Paribas Financial Markets bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $102,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Figure Technology Solutions in the third quarter valued at about $200,000.

Figure Technology Solutions Company Profile

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.