Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CEO Sells 56,825 Shares of Stock

Key Points

• Figure CEO Michael Benjamin Tannenbaum sold 56,825 shares on April 29 at an average price of $31.97 for about $1.82M under a pre‑arranged Rule 10b5‑1 plan; he still holds 3,193,641 shares (~$102.1M) and also sold 127,369 shares on April 28 at $33.35 (~$4.25M).
• Figure missed quarterly EPS expectations ($0.06 vs. $0.13) while reporting $157.63M in revenue (up 90.7% year‑over‑year), and its Board authorized a $200 million stock buyback (≈3.3% of outstanding shares).
• Shares traded up 5.5% to $35.10 with a market cap of $6.38B and a P/E of ~87.8, and analysts collectively rate the stock a Moderate Buy with an average target of $53.75 amid mixed upgrades and downgrades.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CEO Michael Benjamin Tannenbaum sold 56,825 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $31.97, for a total transaction of $1,816,695.25. Following the completion of the transaction, the chief executive officer owned 3,193,641 shares in the company, valued at approximately $102,100,702.77. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Benjamin Tannenbaum also recently made the following trade(s):

• On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15.

Figure Technology Solutions Trading Up 5.5%

NASDAQ:FIGR traded up $1.83 on Thursday, reaching $35.10. The stock had a trading volume of 3,342,856 shares, compared to its average volume of 3,733,763. The company has a market cap of $6.38 billion and a price-to-earnings ratio of 87.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20. The firm's fifty day moving average is $33.28 and its two-hundred day moving average is $40.46. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The business's revenue for the quarter was up 90.7% compared to the same quarter last year. Equities analysts expect that Figure Technology Solutions, Inc. will post 0.93 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in Figure Technology Solutions in the third quarter valued at approximately $8,183,000. Lisanti Capital Growth LLC purchased a new position in Figure Technology Solutions in the third quarter valued at approximately $3,780,000. JPMorgan Chase & Co. purchased a new position in Figure Technology Solutions in the third quarter valued at approximately $15,529,000. BIT Capital GmbH purchased a new position in Figure Technology Solutions in the third quarter valued at approximately $7,718,000. Finally, Fidelity National Financial Inc. purchased a new position in Figure Technology Solutions in the third quarter valued at approximately $9,092,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FIGR shares. Piper Sandler increased their price objective on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Texas Capital upgraded shares of Figure Technology Solutions to a "strong-buy" rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, February 19th. Weiss Ratings lowered shares of Figure Technology Solutions from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, April 24th. Finally, Mizuho cut their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Figure Technology Solutions presently has an average rating of "Moderate Buy" and an average target price of $53.75.

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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