Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) CFO Sells 4,000 Shares

Key Points

• Figure Technology Solutions CFO Minchung Kgil sold 4,000 shares at an average price of $28.13, generating $112,520. The Rule 10b5-1 transaction reduced his ownership by 0.8%, leaving him with 495,651 shares.
• FIGR shares fell 4.4% to $27.55, with the stock trading well below its 50-day and 200-day moving averages. The company has a $5.03 billion market capitalization and a one-year range of $25.01 to $78.00.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $50.25 price target, despite several recent target reductions. Figure also slightly exceeded quarterly EPS expectations, reporting $0.18 versus the $0.17 consensus.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) CFO Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $28.13, for a total transaction of $112,520.00. Following the transaction, the chief financial officer directly owned 495,651 shares in the company, valued at approximately $13,942,662.63. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Minchung Kgil also recently made the following trade(s):

• On Tuesday, June 30th, 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 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 shares were sold at an average price of $30.06, for a total transaction of $274,057.02.

Figure Technology Solutions Stock Down 4.4%

Shares of Figure Technology Solutions stock traded down $1.28 on Tuesday, reaching $27.55. The stock had a trading volume of 2,458,972 shares, compared to its average volume of 4,620,892. 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 capitalization of $5.03 billion and a P/E ratio of 47.50. The company has a 50 day moving average price of $30.79 and a 200 day moving average price of $37.13. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. As a group, equities research analysts forecast that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.

Institutional Trading of Figure Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in Figure Technology Solutions during the 3rd quarter valued at about $9,221,000. Franklin Resources Inc. purchased a new stake in Figure Technology Solutions in the third quarter valued at approximately $5,456,000. BNP Paribas Financial Markets purchased a new stake in Figure Technology Solutions in the third quarter valued at approximately $102,000. UBS Group AG acquired a new position in Figure Technology Solutions in the 3rd quarter worth approximately $7,620,000. Finally, Invesco Ltd. purchased a new position in Figure Technology Solutions during the 3rd quarter worth approximately $25,451,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Sanford C. Bernstein decreased their price target on 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. Needham & Company LLC reissued a "buy" rating and issued a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Zacks Research upgraded Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen downgraded shares of Figure Technology Solutions from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.25.

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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