David Todd Stevens Sells 49,708 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) insider David Todd Stevens sold 49,708 shares of Figure Technology Solutions stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $32.02, for a total value of $1,591,650.16. Following the completion of the sale, the insider directly owned 436,089 shares in the company, valued at $13,963,569.78. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Todd Stevens also recently made the following trade(s):

• On Wednesday, February 18th, David Todd Stevens sold 26,057 shares of Figure Technology Solutions stock. The stock was sold at an average price of $32.00, for a total value of $833,824.00.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $33.25 on Wednesday. The company has a fifty day moving average price of $42.94. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.90 billion and a P/E ratio of 83.13. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The business’s revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its board has authorized a share repurchase program on Thursday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on FIGR. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. The Goldman Sachs Group dropped their price target on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Zacks Research cut Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Needham & Company LLC dropped their target price on Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Figure Technology Solutions has a consensus rating of “Moderate Buy” and an average target price of $55.63.

Hedge Funds Weigh In On Figure Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of Figure Technology Solutions during the 4th quarter worth approximately $25,000. Strs Ohio acquired a new position in Figure Technology Solutions in the fourth quarter valued at approximately $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions in the fourth quarter valued at approximately $35,000. Flagship Harbor Advisors LLC purchased a new position in Figure Technology Solutions in the fourth quarter worth approximately $40,000. Finally, Johnson Financial Group Inc. acquired a new stake in Figure Technology Solutions during the fourth quarter worth $41,000.

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.