Sachin Chand Jaitly Sells 216,713 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Key Points

• Director Sachin Chand Jaitly sold 216,713 shares of FIGR on March 10 at an average price of $33.64, totaling about $7.29 million.
• In its latest quarter FIGR reported $0.06 EPS versus a $0.13 consensus (a miss) and revenue of $157.63 million, up 90.7% year-over-year.
• The Board authorized a $200 million share buyback (up to ~3.3% of shares), and analysts have a consensus rating of "Moderate Buy" with an average target of $55.63.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) Director Sachin Chand Jaitly sold 216,713 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total transaction of $7,290,225.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Figure Technology Solutions Stock Performance

FIGR traded down $1.94 during trading on Thursday, reaching $36.14. The company had a trading volume of 4,423,800 shares, compared to its average volume of 7,636,291. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The company's fifty day moving average price is $46.14.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $158.00 million. Figure Technology Solutions's revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

FIGR has been the subject of several research reports. Mizuho cut their price objective on shares of Figure Technology Solutions from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday. Sanford C. Bernstein increased their target price on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 13th. Texas Capital upgraded Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, January 29th. The Goldman Sachs Group decreased their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Finally, Piper Sandler increased their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 14th. Two research 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FIGR. WMS Group LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter worth approximately $300,000. Bank of Hawaii bought a new stake in Figure Technology Solutions during the 4th quarter worth approximately $1,087,000. Invesco Ltd. grew its stake in shares of Figure Technology Solutions by 66.5% in the 4th quarter. Invesco Ltd. now owns 1,165,385 shares of the company's stock worth $47,594,000 after acquiring an additional 465,606 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in shares of Figure Technology Solutions during the fourth quarter valued at approximately $1,897,000. Finally, Prana Capital Management LP bought a new stake in Figure Technology Solutions in the fourth quarter worth about $2,617,000.

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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