Investors Buy Large Volume of Call Options on Figure Technology Solutions (NASDAQ:FIGR)

Figure Technology Solutions, Inc. (NASDAQ:FIGR) was the recipient of some unusual options trading on Monday. Investors purchased 21,270 call options on the company. This is an increase of 106% compared to the average daily volume of 10,349 call options.

Figure Technology Solutions Stock Performance

Figure Technology Solutions stock traded down $2.06 during trading hours on Monday, reaching $29.74. 2,891,924 shares of the stock were exchanged, compared to its average volume of 4,796,860. Figure Technology Solutions has a 52-week low of $25.01 and a 52-week high of $78.00. The stock has a market cap of $5.43 billion and a P/E ratio of 51.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day moving average is $32.82 and its 200 day moving average is $38.32.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Analysts predict that Figure Technology Solutions will post 0.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on FIGR. Keefe, Bruyette & Woods dropped their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Mizuho raised their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

Insider Buying and Selling

In other news, Director June Ou sold 35,190 shares of Figure Technology Solutions stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Benjamin Tannenbaum sold 2,031 shares of Figure Technology Solutions stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total transaction of $73,176.93. Following the completion of the transaction, the chief executive officer directly owned 3,193,641 shares in the company, valued at $115,066,885.23. The trade was a 0.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 479,337 shares of company stock valued at $16,910,863 in the last 90 days. Company insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its stake in shares of Figure Technology Solutions by 69.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company’s stock worth $2,773,000 after purchasing an additional 27,893 shares during the period. UBS Group AG lifted its stake in shares of Figure Technology Solutions by 322.9% in the fourth quarter. UBS Group AG now owns 885,977 shares of the company’s stock valued at $36,183,000 after purchasing an additional 676,470 shares during the period. SG Americas Securities LLC purchased a new stake in Figure Technology Solutions during the fourth quarter worth about $1,416,000. Vanguard Group Inc. boosted its holdings in Figure Technology Solutions by 17.9% during 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 in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Figure Technology Solutions during the fourth quarter worth about $5,041,000.

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.