Figure Technology Solutions (NASDAQ:FIGR) Stock Price Down 8.6% on Insider Selling

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) fell 8.6% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $38.55 and last traded at $37.6020. 420,517 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,593,800 shares. The stock had previously closed at $41.14.

Specifically, CFO Minchung Kgil sold 8,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

FIGR has been the topic of a number of analyst reports. Weiss Ratings raised shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Sanford C. Bernstein increased their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods decreased their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Zacks Research upgraded Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.62.

Figure Technology Solutions Price Performance

The company has a fifty day moving average of $30.93 and a 200-day moving average of $32.78. 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 has a market cap of $7.06 billion and a PE ratio of 40.88.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. Sell-side analysts expect that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $9,221,000. Franklin Resources Inc. purchased a new stake in shares of Figure Technology Solutions during the third quarter worth $5,456,000. BNP Paribas Financial Markets acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at $102,000. UBS Group AG purchased a new position in Figure Technology Solutions in the third quarter valued at $7,620,000. Finally, Invesco Ltd. acquired a new position in Figure Technology Solutions during the 3rd quarter worth $25,451,000.

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.