Figure Technology Solutions Sees Unusually High Options Volume (NASDAQ:FIGR)

Figure Technology Solutions, Inc. (NASDAQ:FIGR) saw some unusual options trading on Wednesday. Investors bought 17,544 put options on the company. This represents an increase of approximately 101% compared to the average daily volume of 8,720 put options.

Insider Activity at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 9,117 shares of Figure Technology Solutions stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02. Following the sale, the chief financial officer directly owned 507,651 shares in the company, valued at $15,259,989.06. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Benjamin Tannenbaum sold 14,871 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $37.27, for a total transaction of $554,242.17. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares in the company, valued at $119,027,000.07. This represents a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 155,463 shares of company stock valued at $5,926,353 over the last 90 days. Company insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

Several hedge funds have recently modified their holdings of FIGR. Victory Capital Management Inc. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $9,221,000. Franklin Resources Inc. bought a new stake in Figure Technology Solutions during the third quarter worth approximately $5,456,000. BNP Paribas Financial Markets purchased a new stake in Figure Technology Solutions during the third quarter valued at approximately $102,000. UBS Group AG bought a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $7,620,000. Finally, Invesco Ltd. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $25,451,000.

Figure Technology Solutions Stock Performance

NASDAQ:FIGR traded up $1.23 during mid-day trading on Wednesday, hitting $28.87. 1,697,637 shares of the company traded hands, compared to its average volume of 4,578,406. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average price is $29.74 and its 200-day moving average price is $35.87. The firm has a market cap of $5.27 billion and a price-to-earnings ratio of 49.78. Figure Technology Solutions has a one year low of $24.11 and a one year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last announced 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 firm had revenue of $166.84 million during the quarter. Research analysts anticipate that Figure Technology Solutions will post 0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FIGR has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods lowered their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report 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. Piper Sandler reduced their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Wall Street Zen cut Figure Technology Solutions from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.25.

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.