862,065 Shares in Figure Technology Solutions, Inc. $FIGR Acquired by Mithril II GP LP

Mithril II GP LP purchased a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 862,065 shares of the company’s stock, valued at approximately $31,353,000. Figure Technology Solutions accounts for approximately 48.6% of Mithril II GP LP’s investment portfolio, making the stock its biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. bought a new position in shares of Figure Technology Solutions during the third quarter worth $64,000. SBI Securities Co. Ltd. purchased a new stake in Figure Technology Solutions in the 3rd quarter worth $66,000. PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $73,000. Ameritas Advisory Services LLC purchased a new position in shares of Figure Technology Solutions during the third quarter valued at about $200,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Figure Technology Solutions in the third quarter worth about $255,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FIGR shares. Zacks Research cut Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Piper Sandler raised their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Needham & Company LLC lowered their price objective on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of $55.75.

Insider Buying and Selling at Figure Technology Solutions

In related news, insider David Todd Stevens sold 26,057 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00. Following the completion of the sale, the insider directly owned 462,943 shares of the company’s stock, valued at approximately $14,814,176. This trade represents a 5.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Scott Cagney sold 200,058 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total transaction of $7,882,285.20. The disclosure for this sale is available in the SEC filing. Insiders sold 426,173 shares of company stock worth $16,598,394 over the last 90 days.

Figure Technology Solutions Stock Up 3.2%

FIGR stock opened at $31.46 on Friday. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00. The company has a market capitalization of $5.54 billion and a PE ratio of 78.65. 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 company’s fifty day moving average price is $46.80.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to analysts’ expectations of $158.00 million. Figure Technology Solutions’s revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions declared that its Board of Directors has approved a share 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 repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board 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.