Figure Technology Solutions (NASDAQ:FIGR) CFO Sells $110,560.00 in Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $27.64, for a total value of $110,560.00. Following the sale, the chief financial officer owned 503,651 shares of the company’s stock, valued at $13,920,913.64. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock. The shares were sold at an average price of $30.06, for a total value of $274,057.02.
• On Friday, April 24th, Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $32.25, for a total value of $258,000.00.

Figure Technology Solutions Stock Performance

NASDAQ:FIGR opened at $26.86 on Monday. The firm’s fifty day simple moving average is $33.33 and its 200-day simple moving average is $38.93. 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 stock has a market cap of $4.91 billion and a PE ratio of 46.31. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at about $73,000. JPMorgan Chase & Co. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $15,529,000. Vanguard Group Inc. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $91,751,000. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Figure Technology Solutions during the third quarter worth approximately $17,650,000. Finally, Monashee Investment Management LLC bought a new stake in shares of Figure Technology Solutions in the third quarter worth $7,274,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FIGR shares. Sanford C. Bernstein reduced 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. The Goldman Sachs Group dropped their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Mizuho upped their price objective on shares of 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 assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.62.

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.