Insider Selling: Figure Technology Solutions (NASDAQ:FIGR) Director Sells 67,840 Shares of Stock

Key Points

• Director Michael Scott Cagney sold 67,840 shares on April 15 under a Rule 10b5-1 plan for about $2.39 million, cutting his position by 50% to 67,840 shares.
• Figure announced a $200 million share buyback (up to 3.3% of shares) and in its most recent quarter reported $0.06 EPS (missed estimates by $0.07) while revenue grew 90.7% year‑over‑year to $157.63 million.
• Analyst sentiment is mixed: the stock has a consensus rating of "Moderate Buy" with a $53.75 average price target, reflecting a range of Strong Buy to Sell opinions.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) Director Michael Scott Cagney sold 67,840 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. Following the transaction, the director owned 67,840 shares in the company, valued at $2,387,289.60. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Figure Technology Solutions Price Performance

Shares of NASDAQ FIGR traded up $0.94 during mid-day trading on Friday, reaching $36.67. The company had a trading volume of 6,734,335 shares, compared to its average volume of 5,482,198. The firm has a market cap of $6.51 billion and a price-to-earnings ratio of 91.68. The business's 50-day simple moving average is $33.63 and its 200 day simple moving average is $40.99. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.20 and a current ratio of 2.20.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million during the quarter, compared to analyst estimates of $158.00 million. Figure Technology Solutions's quarterly revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its board has approved a share buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America downgraded Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 price target for the company. in a research note on Tuesday, February 3rd. Weiss Ratings downgraded Figure Technology Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, February 11th. Zacks Research raised Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Mizuho dropped their price target on Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, March 26th. Finally, Texas Capital raised Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $25,000. Strs Ohio bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $34,000. MetLife Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $35,000. Flagship Harbor Advisors LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $40,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $41,000.

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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