Readystate Asset Management LP Purchases New Shares in Figure Technology Solutions, Inc. $FIGR

Readystate Asset Management LP acquired a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $546,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $91,751,000. JPMorgan Chase & Co. acquired a new stake in shares of Figure Technology Solutions in the third quarter worth $15,529,000. Zweig DiMenna Associates LLC purchased a new position in shares of Figure Technology Solutions during the third quarter valued at $10,711,000. Federated Hermes Inc. purchased a new position in shares of Figure Technology Solutions during the third quarter valued at $8,183,000. Finally, Exchange Traded Concepts LLC acquired a new position in Figure Technology Solutions during the third quarter valued at $5,963,000.

Analyst Ratings Changes

A number of equities research analysts have commented on FIGR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $71.00 target price on shares of Figure Technology Solutions in a research note on Thursday, February 5th. Bank of America cut shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a report on Tuesday, February 3rd. Mizuho upped their price objective on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. The Goldman Sachs Group increased their target price on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average target price of $59.50.

Figure Technology Solutions Stock Down 3.8%

NASDAQ FIGR opened at $35.50 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The firm has a market capitalization of $6.25 billion and a PE ratio of 104.41. Figure Technology Solutions, Inc. has a 12-month low of $30.01 and a 12-month high of $78.00. The company has a 50 day simple moving average of $49.27.

Insider Buying and Selling at Figure Technology Solutions

In related news, CEO Michael Benjamin Tannenbaum sold 100,000 shares of Figure Technology Solutions stock in a transaction on Monday, November 24th. The shares were sold at an average price of $35.82, for a total value of $3,582,000.00. Following the completion of the sale, the chief executive officer owned 3,821,366 shares of the company’s stock, valued at approximately $136,881,330.12. The trade was a 2.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Todd Stevens sold 40,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the transaction, the insider directly owned 489,000 shares in the company, valued at $17,222,580. The trade was a 7.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,352,573 shares of company stock worth $48,731,291 in the last ninety days.

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.