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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 9,117 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the transaction, the chief financial officer owned 507,651 shares of the company’s stock, valued at approximately $15,259,989.06. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 transaction of $258,000.00.

Figure Technology Solutions Stock Up 4.2%

FIGR opened at $28.55 on Friday. 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 $5.21 billion and a price-to-earnings ratio of 49.22. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00. The company’s 50-day moving average price is $34.15 and its two-hundred day moving average price is $39.33.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. As a group, equities analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions announced that its board has initiated a share buyback program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Figure Technology Solutions

Several hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Figure Technology Solutions during the 4th quarter worth about $25,000. WPG Advisers LLC grew its holdings in Figure Technology Solutions by 71.1% during the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after buying an additional 388 shares in the last quarter. Strs Ohio bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $34,000. MetLife Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $35,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Figure Technology Solutions in the fourth quarter worth about $40,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on FIGR. The Goldman Sachs Group dropped their price target on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Mizuho lifted their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein reduced their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Figure Technology Solutions has an average rating of “Moderate Buy” and a consensus 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.