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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 14,871 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $119,027,000.07. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value 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 value 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 value of $4,247,756.15.

Figure Technology Solutions Stock Down 1.3%

Shares of FIGR opened at $33.95 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 1.90. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The stock has a market capitalization of $6.20 billion and a price-to-earnings ratio of 58.53. The stock has a 50 day moving average price of $35.11 and a 200 day moving average price of $40.16.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. Equities research analysts forecast 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 stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Bank of America dropped their target price on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Sanford C. Bernstein decreased their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Finally, Mizuho upped their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.63.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter valued at about $25,000. Strs Ohio purchased a new position in Figure Technology Solutions during the 4th quarter worth approximately $34,000. MetLife Investment Management LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter valued at approximately $35,000. WPG Advisers LLC raised its position in Figure Technology Solutions by 71.1% during the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after buying an additional 388 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Figure Technology Solutions during the fourth quarter worth about $40,000.

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.