Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) Director Sells 35,190 Shares of Stock

Key Points

• Director Michael Scott Cagney sold 35,190 Figure Technology Solutions shares on May 13 at an average price of $38.20, a transaction worth about $1.34 million. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 50%.
• FIGR shares were up slightly to $43.28, with trading volume roughly in line with average levels. The company has a market cap of $7.86 billion and has traded between $25.01 and $78.00 over the past year.
• The company recently reported quarterly earnings of $0.18 per share, topping estimates by $0.01, while analysts remain generally positive. Mizuho raised its price target to $55 and Needham reiterated a Buy rating, alongside an existing share repurchase authorization of up to $200 million.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) Director Michael Scott Cagney sold 35,190 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. Following the sale, the director owned 35,190 shares of the company's stock, valued at $1,344,258. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Scott Cagney also recently made the following trade(s):

• On Wednesday, April 15th, Michael Scott Cagney sold 67,840 shares of Figure Technology Solutions stock. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60.

Figure Technology Solutions Stock Up 0.1%

Shares of NASDAQ FIGR traded up $0.06 during mid-day trading on Friday, reaching $43.28. 5,202,795 shares of the company were exchanged, compared to its average volume of 5,146,904. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. The stock has a market cap of $7.86 billion and a price-to-earnings ratio of 108.20. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00. The firm has a 50-day moving average of $34.71 and a 200 day moving average of $40.34.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, research analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions announced that its Board of Directors has authorized a share repurchase program on Thursday, February 26th that authorizes the company to buyback $200.00 million in 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 a sign that the company's board of directors believes its stock is undervalued.

Key Figure Technology Solutions News

Here are the key news stories impacting Figure Technology Solutions this week:

• Positive Sentiment: Mizuho raised its price target on Figure Technology Solutions to $55 from $45 and kept an Outperform rating, signaling confidence in further upside for the stock. Mizuho Raises Figure Technology Solutions Price Target
• Positive Sentiment: Needham & Company reiterated a Buy rating on FIGR, reinforcing a constructive outlook from analysts. Needham & Company Buy Rating on Figure Technology Solutions
• Positive Sentiment: Recent coverage highlighted CEO Michael Tannenbaum’s comments on AI, blockchain, and growth opportunities, which may support investor optimism around the company’s long-term strategy. CEO Interview on AI, Blockchain and Capital Markets
• Neutral Sentiment: Market commentary compared FIGR’s year-to-date performance with other business services names, suggesting investors are still benchmarking the stock against its peers. FIGR vs. Peer Performance Article
• Negative Sentiment: Director Michael Scott Cagney sold 35,190 shares in a pre-arranged 10b5-1 transaction, reducing his position by 50%, which can weigh on sentiment despite the planned nature of the trade.
• Negative Sentiment: Director June Ou sold 35,190 shares in another pre-arranged 10b5-1 sale, adding to insider selling pressure on the stock.
• Negative Sentiment: Insider David Todd Stevens sold 47,064 shares, trimming his ownership by about 10.4%, which may raise caution even though the sale was also under a trading plan.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FIGR shares. Texas Capital upgraded Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, January 29th. Zacks Research raised Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Weiss Ratings lowered Figure Technology Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods raised Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, February 19th. Finally, Sanford C. Bernstein reduced their target price on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Figure Technology Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $53.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions during the 4th quarter valued at about $25,000. WPG Advisers LLC increased its holdings in shares of Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock valued at $32,000 after purchasing an additional 388 shares during the period. Strs Ohio acquired a new position in shares of Figure Technology Solutions in the fourth quarter valued at about $34,000. MetLife Investment Management LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter valued at about $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter valued at about $40,000.

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.

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