Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CFO Sells $309,520.00 in Stock

Key Points

• Figure Technology Solutions CFO Minchung Kgil sold 8,000 shares at an average price of $38.69, worth $309,520, under a pre-arranged Rule 10b5-1 plan. He retained 483,651 shares valued at approximately $18.7 million.
• FIGR shares fell 9.9% to $37.08 during Wednesday trading. The company recently beat quarterly earnings expectations, reporting $0.35 EPS versus the $0.24 consensus and $218.45 million in revenue.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $50.62 target price, although institutional investors have also been actively adjusting their positions.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CFO Minchung Kgil sold 8,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares of the company's stock, valued at $18,712,457.19. The trade was a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 Wednesday, August 12th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.03, for a total transaction of $120,120.00.
• On Friday, July 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $28.13, for a total transaction of $112,520.00.
• On Tuesday, June 30th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $30.03, for a total transaction of $120,120.00.
• On Wednesday, June 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $27.64, for a total transaction of $110,560.00.
• On Monday, June 15th, Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock. The stock was sold at an average price of $30.06, for a total value of $274,057.02.

Figure Technology Solutions Trading Down 9.9%

FIGR stock traded down $4.06 during midday trading on Wednesday, hitting $37.08. 5,136,707 shares of the company's stock were exchanged, compared to its average volume of 4,621,923. Figure Technology Solutions, Inc. has a one year low of $24.11 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market cap of $6.88 billion and a PE ratio of 39.87. The stock's fifty day moving average price is $30.54 and its 200-day moving average price is $32.82.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The company had revenue of $218.45 million during the quarter. Research analysts predict that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on FIGR shares. Mizuho raised their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Zacks Research upgraded shares of Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Needham & Company LLC restated a "buy" rating and set a $55.00 price objective on shares of Figure Technology Solutions in a report on Thursday, August 20th. Wall Street Zen raised shares of Figure Technology Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Figure Technology Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Figure Technology Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.62.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA boosted its holdings in shares of Figure Technology Solutions by 69.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company's stock valued at $2,773,000 after buying an additional 27,893 shares during the last quarter. UBS Group AG grew its stake in shares of Figure Technology Solutions by 322.9% in the fourth quarter. UBS Group AG now owns 885,977 shares of the company's stock valued at $36,183,000 after buying an additional 676,470 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd increased its holdings in Figure Technology Solutions by 53.6% during the fourth quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 745,286 shares of the company's stock worth $30,437,000 after buying an additional 260,000 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Figure Technology Solutions during the fourth quarter worth $5,041,000. Finally, Vanguard Group Inc. raised its position in Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company's stock worth $121,493,000 after acquiring an additional 452,136 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source