Figure Technology Solutions (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum Sells 14,871 Shares

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 14,871 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $37.27, for a total value of $554,242.17. Following the sale, the chief executive officer owned 3,193,641 shares in the company, valued at approximately $119,027,000.07. This represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 20th, Michael Benjamin Tannenbaum sold 2,031 shares of Figure Technology Solutions stock. The stock was sold at an average price of $36.03, for a total transaction of $73,176.93.
• On Wednesday, April 29th, Michael Benjamin Tannenbaum sold 56,825 shares of Figure Technology Solutions stock. The stock was sold at an average price of $31.97, for a total transaction of $1,816,695.25.
• On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The stock was sold at an average price of $33.35, for a total transaction of $4,247,756.15.

Figure Technology Solutions Trading Down 5.5%

Shares of Figure Technology Solutions stock opened at $34.38 on Friday. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The company has a market cap of $6.28 billion and a price-to-earnings ratio of 59.28. The company has a current ratio of 1.90, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $35.19 and its 200-day moving average price is $40.21.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. On average, equities analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Figure Technology Solutions announced that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Orland Properties Ltd purchased a new position in shares of Figure Technology Solutions in the third quarter worth about $319,187,000. J Digital 6 LLC increased its holdings in shares of Figure Technology Solutions by 9.1% in the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after buying an additional 274,145 shares during the period. Vanguard Group Inc. increased its holdings in shares of Figure Technology Solutions by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after buying an additional 452,136 shares during the period. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions in the third quarter worth about $76,989,000. Finally, Fred Alger Management LLC purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth about $67,386,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FIGR. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Bank of America lowered their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Finally, Mizuho raised their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.63.

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. 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.