Insider Selling at Figure Technology Solutions Inc. – What It Signals for the Future
On February 18, 2026, Chief Capital Officer David Todd sold 26,057 shares of Figure’s Class A common stock at $32 per share, bringing his holdings to 462,943 shares. This sale comes against a backdrop of a steep 28.79 % weekly decline and a 60 % drop over the last month, with the stock trading just above its 52‑week low of $28.37. The price movement and Todd’s exit raise questions about confidence in Figure’s recent pivot to on‑chain securities and the broader market’s reception of its high‑PE valuation (~139.69).
Interpreting the Timing and Market Context
Todd’s trade occurs as the broader insider activity shows a flurry of selling by top executives. CEO Michael Tannenbaum sold a combined 133,000 shares on December 2‑3, 2025, while CFO Kgil Minchung also sold over 140,000 shares in the same period. These large transactions suggest a tightening of cash flow expectations and perhaps a reassessment of the company’s growth prospects. The sentiment score of –62 and a buzz level of 400 % indicate a negative but highly amplified social‑media reaction, likely driven by the perception that insiders are betting against their own company during a period of volatility.
Implications for Investors and Strategic Outlook
For investors, Todd’s sale signals a short‑term risk that the company’s leadership may not fully endorse its current trajectory. However, insider selling is not uncommon during periods of market stress; the key is whether the company’s fundamentals support a rebound. Figure’s recent launch of the first SEC‑registered on‑chain public stock, FGRD, positions it uniquely in the fintech space. If the company can translate this innovation into sustainable revenue streams, the high PE ratio could be justified, and the stock may regain traction. Until then, the current sell-off could be interpreted as a cautionary signal rather than a definitive verdict on the company’s long‑term prospects.
Profile of David Todd: A Consistent Exit Strategy
Todd’s historical transaction record reflects a pattern of moderate‑size sales, typically around 40,000 shares, executed at prices near the prevailing market level (e.g., $35.22 in December 2025). His holdings remain substantial, suggesting a long‑term stake, but the timing of his sales—often shortly after earnings releases or major announcements—indicates a prudent risk‑management approach. His role as Chief Capital Officer aligns with a focus on capital structure and liquidity, and his recent sale may reflect a recalibration of the company’s balance sheet as it navigates the nascent on‑chain securities market.
Bottom Line for Market Participants
Todd’s February sale, coupled with a wave of insider selling, underscores the volatility surrounding Figure Technology Solutions Inc. Investors should watch for the company’s ability to convert its on‑chain platform into profitable operations while monitoring any further insider transactions that might signal shifts in leadership confidence. The market’s reaction—high buzz yet negative sentiment—suggests that the narrative around Figure’s future is still evolving, and that cautious, data‑driven analysis will be essential for making informed investment decisions.
| Date | Owner | Transaction Type | Shares | Price per Share | Security |
|---|---|---|---|---|---|
| 2026-02-18 | Stevens David Todd (Chief Capital Officer) | Sell | 26,057.00 | 32.00 | Class A Common Stock |
