Minchung Kgil Sells 8,000 Shares of Figure Technology Solutions (NASDAQ:FIGR) Stock

Figure Technology Solutions, Inc. (NASDAQ:FIGR) CFO Minchung Kgil sold 8,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.69, for a total value of $309,520.00. Following the sale, the chief financial officer owned 483,651 shares in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Wednesday, August 12th, 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 value of $120,120.00.
• On Friday, July 24th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were sold at an average price of $28.13, for a total transaction of $112,520.00.
• On Tuesday, June 30th, Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock. The shares were 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 stock was 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 Performance

Figure Technology Solutions stock opened at $38.02 on Friday. Figure Technology Solutions, Inc. has a 12-month low of $24.11 and a 12-month high of $78.00. The company has a market capitalization of $7.06 billion and a price-to-earnings ratio of 40.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86. The firm’s fifty day moving average price is $30.93 and its 200 day moving average price is $32.78.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. On average, research analysts forecast that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Institutional Trading of Figure Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Duquesne Family Office LLC acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $76,989,000. Fred Alger Management LLC acquired a new stake in shares of Figure Technology Solutions during the 4th quarter valued at approximately $67,386,000. Pantera Capital Partners LP bought a new position in Figure Technology Solutions during the third quarter worth $56,114,000. California State Teachers Retirement System lifted its stake in Figure Technology Solutions by 62,565.2% during the second quarter. California State Teachers Retirement System now owns 1,190,013 shares of the company’s stock worth $38,750,000 after purchasing an additional 1,188,114 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Figure Technology Solutions in the third quarter worth $36,087,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FIGR shares. Keefe, Bruyette & Woods lowered their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Sanford C. Bernstein raised their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.62.

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.