Moody National Bank Trust Division Grows Position in Figure Technology Solutions, Inc. $FIGR

Moody National Bank Trust Division raised its holdings in Figure Technology Solutions, Inc. (NASDAQ:FIGR – Free Report) by 106.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,759 shares of the company’s stock after buying an additional 58,609 shares during the period. Moody National Bank Trust Division owned 0.06% of Figure Technology Solutions worth $3,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FIGR. Fred Alger Management LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at $67,386,000. Capital World Investors raised its position in Figure Technology Solutions by 4.2% during the fourth quarter. Capital World Investors now owns 1,458,424 shares of the company’s stock worth $59,562,000 after acquiring an additional 58,424 shares in the last quarter. Granahan Investment Management LLC lifted its stake in Figure Technology Solutions by 40.6% in the first quarter. Granahan Investment Management LLC now owns 935,400 shares of the company’s stock valued at $31,757,000 after acquiring an additional 269,882 shares during the last quarter. Norges Bank acquired a new stake in Figure Technology Solutions in the fourth quarter valued at $32,672,000. Finally, Maplelane Capital LLC bought a new position in shares of Figure Technology Solutions in the 1st quarter valued at about $23,120,000.

Figure Technology Solutions Price Performance

Shares of FIGR stock traded down $0.59 on Tuesday, hitting $27.35. 3,020,519 shares of the company’s stock were exchanged, compared to its average volume of 4,626,813. The stock has a market cap of $5.08 billion and a P/E ratio of 29.41. 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 company has a 50 day moving average of $32.87 and a 200 day moving average of $32.79. Figure Technology Solutions, Inc. has a 12 month low of $24.11 and a 12 month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. On average, equities research analysts predict that Figure Technology Solutions, Inc. will post 1.2 EPS for the current year.

Insider Buying and Selling at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares of the company’s stock, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the sale, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 63,650 shares of company stock valued at $2,037,417. Company insiders own 26.60% of the company’s stock.

Analyst Ratings Changes

FIGR has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Sanford C. Bernstein lifted their price objective 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. Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. 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 Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Read Our Latest Report on FIGR

About Figure Technology Solutions

(Free Report)

Figure Technology Solutions, Inc is a financial technology company that develops blockchain- and artificial intelligence-enabled solutions for lending and financial services. The company’s technology is designed to support the origination, servicing, financing and trading of financial assets through more efficient digital processes.

Figure’s business activities have included home equity lending, personal lending, mortgage-related services and financial asset marketplaces. Its platform has also been used to facilitate the issuance and transfer of loans and other financial products, with blockchain technology intended to improve transparency, settlement and recordkeeping.

The company was founded by Mike Cagney, who previously co-founded Social Finance, Inc (SoFi), and Figure has operated primarily in the United States.

See Also

Institutional Ownership by Quarter for Figure Technology Solutions (NASDAQ:FIGR)

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