Hiddenite Capital Partners LP purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR – Free Report) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 505,000 shares of the company’s stock, valued at approximately $14,569,000. Figure Technology Solutions makes up 2.6% of Hiddenite Capital Partners LP’s holdings, making the stock its 11th largest position.
Other institutional investors have also modified their holdings of the company. Brooklands Fund Management Ltd acquired a new stake in Figure Technology Solutions during the third quarter worth about $24,600,000. Maplelane Capital LLC bought a new position in Figure Technology Solutions in the first quarter worth about $23,120,000. Bank of New York Mellon Corp acquired a new position in Figure Technology Solutions in the second quarter valued at approximately $10,875,000. Granahan Investment Management LLC boosted 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 period. Finally, Principal Financial Group Inc. acquired a new position in Figure Technology Solutions in the first quarter valued at approximately $8,125,000.
Figure Technology Solutions Stock Up 1.0%
FIGR opened at $21.79 on Tuesday. Figure Technology Solutions, Inc. has a one year low of $20.92 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. The stock’s fifty day moving average is $30.72 and its 200-day moving average is $34.33. The company has a market capitalization of $4.05 billion and a PE ratio of 23.43.
Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share 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 net margin of 33.45% and a return on equity of 18.90%. On average, equities analysts predict that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently weighed in on FIGR. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research upgraded Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Piper Sandler dropped their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Bank of America reiterated a “neutral” rating and issued a $44.00 target price on shares of Figure Technology Solutions in a research note on Monday, October 5th. Four investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $53.57.
Read Our Latest Research Report on FIGR
Insider Activity at Figure Technology Solutions
In related news, CFO Minchung Kgil sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were 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 in the company, 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 filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider owned 376,599 shares of the company’s stock, valued at $11,817,676.62. The trade was a 11.23% 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. Over the last three months, insiders have sold 59,650 shares of company stock valued at $1,924,897. Company insiders own 26.60% of the company’s stock.
About Figure Technology Solutions
Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.
Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.
Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.
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