Regal Partners Ltd purchased a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 70,656 shares of the company’s stock, valued at approximately $2,399,000.
Several other hedge funds have also recently modified their holdings of FIGR. Global Retirement Partners LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter valued at approximately $25,000. WPG Advisers LLC grew its position in Figure Technology Solutions by 71.1% during the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the last quarter. Strs Ohio acquired a new position in Figure Technology Solutions during the 4th quarter valued at approximately $34,000. MetLife Investment Management LLC purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth $35,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Figure Technology Solutions during the fourth quarter worth $40,000.
Analyst Ratings Changes
A number of brokerages have recently weighed in on FIGR. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Piper Sandler lowered their price target on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen downgraded Figure Technology Solutions from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.
Insider Activity
In other Figure Technology Solutions news, Director Michael Scott Cagney sold 35,190 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. Following the completion of the transaction, the director owned 35,190 shares in the company, valued at approximately $1,344,258. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the transaction, the insider owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. This trade represents a 10.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 155,463 shares of company stock valued at $5,926,353 in the last three months. Corporate insiders own 26.60% of the company’s stock.
Figure Technology Solutions Trading Down 4.4%
Shares of NASDAQ:FIGR opened at $27.55 on Wednesday. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The company has a market capitalization of $5.03 billion and a PE ratio of 47.50. The business has a 50 day moving average of $30.61 and a two-hundred day moving average of $36.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20.
Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. As a group, analysts forecast that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.
Figure Technology Solutions 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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