Michael Benjamin Tannenbaum Sells 2,031 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CEO Michael Benjamin Tannenbaum sold 2,031 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total transaction of $73,176.93. Following the sale, the chief executive officer owned 3,193,641 shares of the company’s stock, valued at $115,066,885.23. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a legal 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, May 19th, Michael Benjamin Tannenbaum sold 14,871 shares of Figure Technology Solutions stock. The stock was sold at an average price of $37.27, for a total transaction of $554,242.17.
• On Wednesday, April 29th, Michael Benjamin Tannenbaum sold 56,825 shares of Figure Technology Solutions stock. The stock was sold at an average price of $31.97, for a total transaction of $1,816,695.25.
• On Tuesday, April 28th, Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock. The stock was sold at an average price of $33.35, for a total transaction of $4,247,756.15.

Figure Technology Solutions Stock Performance

NASDAQ FIGR traded down $2.02 during trading hours on Thursday, reaching $34.38. 4,106,386 shares of the company were exchanged, compared to its average volume of 5,077,227. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00. The business’s 50 day simple moving average is $35.30 and its 200-day simple moving average is $40.24. The company has a quick ratio of 2.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.28 billion and a P/E ratio of 59.28.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) 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, equities 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 has initiated 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 reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Figure Technology Solutions

Several large investors have recently modified their holdings of the business. Vestor Capital LLC increased its stake in shares of Figure Technology Solutions by 2,908.7% in the first quarter. Vestor Capital LLC now owns 81,234 shares of the company’s stock worth $2,758,000 after purchasing an additional 78,534 shares in the last quarter. Feynman Point Asset Management LLC purchased a new position in shares of Figure Technology Solutions in the first quarter worth about $2,865,000. Royal Bank of Canada increased its stake in shares of Figure Technology Solutions by 47.8% in the first quarter. Royal Bank of Canada now owns 35,749 shares of the company’s stock worth $1,214,000 after purchasing an additional 11,560 shares in the last quarter. Regal Partners Ltd purchased a new position in shares of Figure Technology Solutions in the first quarter worth about $2,399,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Figure Technology Solutions by 660.5% in the first quarter. The Manufacturers Life Insurance Company now owns 42,717 shares of the company’s stock worth $1,450,000 after purchasing an additional 37,100 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FIGR. Bank of America decreased their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Mizuho lifted their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group reduced their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.63.

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.