Figure Technology Solutions (NASDAQ:FIGR) Shares Down 9% - Here's What Happened

Key Points

• Shares of Figure Technology Solutions fell about 9% intraday to $35.36 from a prior close of $38.87, with trading volume (~948,344) roughly 79% below its average session volume.
• Analysts remain broadly positive: the consensus is a “Moderate Buy” with a $59.50 target after several upgrades and price-target raises (e.g., Goldman Sachs to $58, Sanford C. Bernstein to $72, Texas Capital to strong-buy).
• Insiders have been net sellers — roughly 3.34 million shares sold (~$123.8M) in the past three months despite a director buying 4,000 shares; the company has a $6.37B market cap, a high PE (~106.3), and recently beat quarterly EPS estimates ($0.34 vs. $0.16) on $156M revenue.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) shares traded down 9% during trading on Wednesday . The stock traded as low as $35.36 and last traded at $35.36. 948,344 shares traded hands during trading, a decline of 79% from the average session volume of 4,487,429 shares. The stock had previously closed at $38.87.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Figure Technology Solutions in a research note on Monday, December 29th. Texas Capital upgraded Figure Technology Solutions to a "strong-buy" rating in a report on Thursday, January 29th. The Goldman Sachs Group increased their price target on Figure Technology Solutions from $51.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, January 13th. Sanford C. Bernstein lifted their price objective on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, January 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $71.00 target price on shares of Figure Technology Solutions in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Figure Technology Solutions Stock Down 7.0%

The firm has a market capitalization of $6.37 billion and a PE ratio of 106.32. The company's 50 day simple moving average is $49.71. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its earnings results on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

Insider Buying and Selling at Figure Technology Solutions

In related news, Director David K. Chao purchased 4,000 shares of the firm's stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average price of $38.26 per share, for a total transaction of $153,040.00. Following the completion of the acquisition, the director owned 4,000 shares of the company's stock, valued at $153,040. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director June Ou sold 200,058 shares of the firm's stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,344,073 shares of company stock valued at $123,816,526 in the last three months.

Institutional Investors Weigh In On Figure Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter worth approximately $25,000. Strs Ohio purchased a new stake in shares of Figure Technology Solutions during the fourth quarter valued at approximately $34,000. Flagship Harbor Advisors LLC bought a new stake in Figure Technology Solutions during the fourth quarter worth $40,000. Blue Trust Inc. purchased a new position in Figure Technology Solutions in the third quarter worth $64,000. Finally, SBI Securities Co. Ltd. purchased a new position in Figure Technology Solutions in the third quarter worth $66,000.

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.

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