Investment House LLC Takes $9.01 Million Position in Figure Technology Solutions, Inc. $FIGR

Investment House LLC bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the fourth quarter, Holdings Channel reports. The institutional investor bought 220,525 shares of the company’s stock, valued at approximately $9,006,000.

Other large investors also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at approximately $34,000. Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. bought a new position in shares of Figure Technology Solutions in the third quarter valued at approximately $66,000. PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions in the third quarter valued at approximately $73,000. Finally, NBC Securities Inc. bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at approximately $92,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FIGR. Bank of America dropped their price target on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Sanford C. Bernstein dropped their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. The Goldman Sachs Group dropped their price target on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Mizuho lifted their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Weiss Ratings upgraded Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

Insiders Place Their Bets

In other news, Director Michael Scott Cagney sold 35,190 shares of Figure Technology Solutions stock in a transaction on Wednesday, May 13th. The stock was 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 directly owned 35,190 shares in the company, valued at approximately $1,344,258. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of Figure Technology Solutions stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 711,739 shares of company stock valued at $24,660,582. Company insiders own 26.60% of the company’s stock.

Figure Technology Solutions Stock Performance

NASDAQ:FIGR opened at $36.23 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 2.20. The business has a fifty day simple moving average of $35.22 and a two-hundred day simple moving average of $40.27. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00. The company has a market capitalization of $6.62 billion and a P/E ratio of 90.58.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. On average, analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Figure Technology Solutions

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.