Figure Technology Solutions (NASDAQ:FIGR) Director Sells $7,290,225.32 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director Sachin Chand Jaitly sold 216,713 shares of Figure Technology Solutions stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The transaction was disclosed in a filing with the SEC, which is available through this link.

Figure Technology Solutions Stock Down 3.0%

FIGR stock opened at $35.07 on Friday. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $6.18 billion and a price-to-earnings ratio of 87.68. The firm has a 50 day simple moving average of $45.97. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million during the quarter, compared to analyst estimates of $158.00 million. The business’s revenue for the quarter was up 90.7% compared to the same quarter last year.

Figure Technology Solutions announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FIGR. Weiss Ratings downgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. Sanford C. Bernstein raised their price objective on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. Mizuho lowered their price objective on shares of Figure Technology Solutions from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday. Zacks Research downgraded shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Two equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.63.

Institutional Investors Weigh In On Figure Technology Solutions

Several institutional investors have recently made changes to their positions in FIGR. WMS Group LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter worth $300,000. Bank of Hawaii bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $1,087,000. Invesco Ltd. lifted its holdings in Figure Technology Solutions by 66.5% during the 4th quarter. Invesco Ltd. now owns 1,165,385 shares of the company’s stock worth $47,594,000 after purchasing an additional 465,606 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in Figure Technology Solutions during the 4th quarter worth about $1,897,000. Finally, Prana Capital Management LP bought a new position in Figure Technology Solutions in the 4th quarter worth about $2,617,000.

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.