Zweig DiMenna Associates LLC trimmed its holdings in Figure Technology Solutions, Inc. (NASDAQ:FIGR – Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,400 shares of the company’s stock after selling 40,100 shares during the period. Zweig DiMenna Associates LLC owned about 0.14% of Figure Technology Solutions worth $10,390,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Figure Technology Solutions in the fourth quarter valued at about $25,000. Strs Ohio purchased a new position in shares of Figure Technology Solutions in the fourth quarter valued at about $34,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Figure Technology Solutions in the fourth quarter worth about $40,000. SBI Securities Co. Ltd. purchased a new stake in shares of Figure Technology Solutions in the third quarter worth about $66,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Figure Technology Solutions in the third quarter worth about $73,000.
Analysts Set New Price Targets
A number of equities research analysts recently commented on FIGR shares. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Bank of America decreased their target price on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Mizuho boosted their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Sanford C. Bernstein decreased their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Finally, Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.
Insider Activity at Figure Technology Solutions
In other Figure Technology Solutions news, Director June Ou sold 35,190 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 35,190 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. Following the sale, the director directly owned 35,190 shares in the company, valued at $1,344,258. The trade was a 50.00% 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 sold a total of 728,641 shares of company stock valued at $25,288,002 over the last ninety days. 26.60% of the stock is currently owned by company insiders.
Figure Technology Solutions Trading Up 1.8%
Shares of NASDAQ FIGR opened at $35.35 on Friday. The business’s 50 day moving average is $35.08 and its two-hundred day moving average is $40.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The stock has a market capitalization of $6.46 billion and a P/E ratio of 60.95.
Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. As a group, research analysts expect that Figure Technology Solutions, Inc. will post 0.94 EPS for the current year.
Figure Technology Solutions announced that its Board of Directors has authorized a stock buyback program on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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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