Figure Technology Solutions (NASDAQ:FIGR) CFO Minchung Kgil Sells 9,117 Shares

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 9,117 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the transaction, the chief financial officer directly owned 507,651 shares in the company, valued at $15,259,989.06. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.25, for a total value of $258,000.00.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR opened at $27.40 on Thursday. 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’s 50 day moving average is $34.20 and its two-hundred day moving average is $39.39. The company has a market cap of $5.00 billion and a P/E ratio of 47.24. 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 issued 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, Inc. will post 0.94 EPS for the current year.

Figure Technology Solutions declared that its Board of Directors has approved a stock buyback program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Bank of America dropped their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Mizuho boosted their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $53.63.

Institutional Trading of Figure Technology Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orland Properties Ltd bought a new stake in shares of Figure Technology Solutions during the third quarter valued at approximately $319,187,000. J Digital 6 LLC boosted its stake in 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 buying an additional 274,145 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 buying an additional 452,136 shares in the last quarter. Duquesne Family Office LLC acquired a new stake in Figure Technology Solutions in the 3rd quarter valued at $76,989,000. Finally, Fred Alger Management LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at $67,386,000.

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.