Figure Technology Solutions (NASDAQ:FIGR) Shares Down 9% – Time to Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price was down 9% during trading on Wednesday . The stock traded as low as $35.36 and last traded at $35.36. Approximately 948,344 shares traded hands during trading, a decline of 79% from the average daily volume of 4,487,429 shares. The stock had previously closed at $38.87.

Wall Street Analyst Weigh In

FIGR has been the topic of several recent analyst reports. Sanford C. Bernstein increased their target price on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Bank of America lowered Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 3rd. Mizuho upped their target price on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Zacks Research cut Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and two have issued a Sell 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 $59.50.

Figure Technology Solutions Price Performance

The business has a 50-day simple moving average of $49.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26.

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

Insider Buying and Selling at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total value of $35,584,520.00. Following the completion of the sale, the chief executive officer directly owned 3,921,366 shares in the company, valued at approximately $153,678,333.54. The trade was a 18.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Scott Cagney sold 500,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the completion of the sale, the director directly owned 6,378,993 shares of the company’s stock, valued at $231,047,126.46. This trade represents a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,344,073 shares of company stock valued at $123,816,526.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FIGR. Global Retirement Partners LLC purchased a new stake in Figure Technology Solutions during the 4th quarter valued at about $25,000. Strs Ohio purchased a new position in Figure Technology Solutions in the 4th quarter worth approximately $34,000. MetLife Investment Management LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $35,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Figure Technology Solutions during the fourth quarter valued at approximately $40,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Figure Technology Solutions in the fourth quarter worth approximately $41,000.

About Figure Technology Solutions

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.