Figure Technology Solutions (NASDAQ:FIGR) Director Sachin Chand Jaitly Sells 216,713 Shares of Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total value of $7,290,225.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Figure Technology Solutions Stock Performance

Figure Technology Solutions stock traded down $1.06 during mid-day trading on Friday, reaching $35.08. 2,638,823 shares of the company were exchanged, compared to its average volume of 5,900,986. The stock has a 50-day moving average price of $46.14. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00. The stock has a market capitalization of $6.18 billion and a price-to-earnings ratio of 87.69. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

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

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter worth approximately $721,000. Exchange Traded Concepts LLC acquired a new position in Figure Technology Solutions during the third quarter worth $5,963,000. Blue Trust Inc. purchased a new stake in Figure Technology Solutions during the third quarter worth $64,000. Hennessy Advisors Inc. acquired a new stake in Figure Technology Solutions in the third quarter valued at $255,000. Finally, CWA Asset Management Group LLC purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $1,412,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC dropped their price target on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Zacks Research lowered Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Sanford C. Bernstein increased their target price on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Mizuho dropped their price objective on Figure Technology Solutions from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.63.

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.