Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) Director Sells $1,344,258.00 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director Michael Scott Cagney sold 35,190 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the sale, the director owned 35,190 shares of the company’s stock, valued at $1,344,258. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Scott Cagney also recently made the following trade(s):

• On Wednesday, April 15th, Michael Scott Cagney sold 67,840 shares of Figure Technology Solutions stock. The stock was sold at an average price of $35.19, for a total transaction of $2,387,289.60.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $43.28 on Monday. The stock has a market capitalization of $7.86 billion and a P/E ratio of 108.20. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $34.97 and a 200 day simple moving average of $40.35. 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 announced its 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 for the quarter. Research 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 repurchase program on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on FIGR shares. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 19th. Bank of America decreased their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. The Goldman Sachs Group decreased their price objective on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Weiss Ratings lowered shares of Figure Technology Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $53.63.

Key Headlines Impacting Figure Technology Solutions

Here are the key news stories impacting Figure Technology Solutions this week:

• Positive Sentiment: Mizuho raised its price target on Figure Technology Solutions to $55 from $45 and kept an Outperform rating, signaling confidence in further upside for the stock. Mizuho Raises Figure Technology Solutions Price Target
• Positive Sentiment: Needham & Company reiterated a Buy rating on FIGR, reinforcing a constructive outlook from analysts. Needham & Company Buy Rating on Figure Technology Solutions
• Positive Sentiment: Recent coverage highlighted CEO Michael Tannenbaum’s comments on AI, blockchain, and growth opportunities, which may support investor optimism around the company’s long-term strategy. CEO Interview on AI, Blockchain and Capital Markets
• Neutral Sentiment: Market commentary compared FIGR’s year-to-date performance with other business services names, suggesting investors are still benchmarking the stock against its peers. FIGR vs. Peer Performance Article
• Negative Sentiment: Director Michael Scott Cagney sold 35,190 shares in a pre-arranged 10b5-1 transaction, reducing his position by 50%, which can weigh on sentiment despite the planned nature of the trade.
• Negative Sentiment: Director June Ou sold 35,190 shares in another pre-arranged 10b5-1 sale, adding to insider selling pressure on the stock.
• Negative Sentiment: Insider David Todd Stevens sold 47,064 shares, trimming his ownership by about 10.4%, which may raise caution even though the sale was also under a trading plan.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Orland Properties Ltd bought a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $319,187,000. J Digital 6 LLC boosted its stake in shares of Figure Technology Solutions by 9.1% in the 4th quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock valued at $133,816,000 after purchasing an additional 274,145 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Figure Technology Solutions by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after purchasing an additional 452,136 shares during the last quarter. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $76,989,000. Finally, Fred Alger Management LLC bought a new position in shares of Figure Technology Solutions in the 4th quarter valued at about $67,386,000.

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.