Stock Traders Purchase Large Volume of Figure Technology Solutions Call Options (NASDAQ:FIGR)

Figure Technology Solutions, Inc. (NASDAQ:FIGR) was the target of unusually large options trading activity on Monday. Traders bought 21,270 call options on the stock. This represents an increase of 106% compared to the typical volume of 10,349 call options.

Insider Activity

In related news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the 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 sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 343,657 shares of company stock valued at $12,136,284. 26.60% of the stock is owned by corporate insiders.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions in the fourth quarter valued at $25,000. WPG Advisers LLC boosted its stake in shares of Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after buying an additional 388 shares during the period. Strs Ohio acquired a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $34,000. MetLife Investment Management LLC purchased a new position in shares of Figure Technology Solutions during the fourth quarter worth about $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions in the 4th quarter valued at about $40,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Figure Technology Solutions from a “hold” rating to a “sell” rating in a report on Sunday. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Sanford C. Bernstein dropped their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Finally, Bank of America reduced their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.50.

Figure Technology Solutions Trading Up 0.7%

FIGR opened at $29.96 on Wednesday. Figure Technology Solutions has a 52 week low of $25.01 and a 52 week high of $78.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $32.56 and a 200-day simple moving average of $38.11. The firm has a market cap of $5.47 billion and a P/E ratio of 51.66.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. On average, equities analysts expect that Figure Technology Solutions will post 0.89 earnings per share for the current year.

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.