Figure Technology Solutions (NASDAQ:FIGR) CFO Minchung Kgil Sells 8,000 Shares of Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total value of $309,520.00. Following the completion of the transaction, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Minchung Kgil also recently made the following trade(s):

• On Wednesday, August 12th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.03, for a total value of $120,120.00.
• On Friday, July 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $28.13, for a total value of $112,520.00.
• On Tuesday, June 30th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $30.03, for a total value of $120,120.00.
• On Wednesday, June 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $27.64, for a total transaction of $110,560.00.
• On Monday, June 15th, Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02.

Figure Technology Solutions Stock Down 9.9%

FIGR stock opened at $37.08 on Thursday. The stock has a market cap of $6.88 billion and a P/E ratio of 39.87. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $30.74 and its two-hundred day simple moving average is $32.80. Figure Technology Solutions, Inc. has a 1-year low of $24.11 and a 1-year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The company had revenue of $218.45 million during the quarter. Analysts expect that Figure Technology Solutions, Inc. will post 1.18 EPS for the current year.

Institutional Investors Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WPG Advisers LLC lifted its position in shares of Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. State of Wyoming grew its position in shares of Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock worth $131,000 after buying an additional 498 shares during the period. Arcus Capital Partners LLC increased its stake in shares of Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock worth $251,000 after acquiring an additional 541 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions during the 4th quarter valued at about $25,000. Finally, Wells Fargo & Company MN lifted its position in Figure Technology Solutions by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after acquiring an additional 616 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Zacks Research upgraded Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods reduced their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Piper Sandler decreased their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Figure Technology Solutions has an average rating of “Moderate Buy” and an average target price of $50.62.

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.