Faithward Advisors LLC Invests $1.90 Million in Figure Technology Solutions, Inc. $FIGR

Faithward Advisors LLC bought a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,030 shares of the company’s stock, valued at approximately $1,902,000.

Other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth approximately $25,000. Strs Ohio acquired a new position in shares of Figure Technology Solutions in the 4th quarter valued at $34,000. MetLife Investment Management LLC acquired a new position in shares of Figure Technology Solutions in the 4th quarter valued at $35,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $40,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $41,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Sanford C. Bernstein lowered their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Bank of America reduced their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Figure Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $53.62.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $27.98 on Wednesday. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The firm has a fifty day moving average of $33.84 and a 200-day moving average of $39.19. The firm has a market capitalization of $5.11 billion and a P/E ratio of 48.24. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. As a group, analysts predict that Figure Technology Solutions, Inc. will post 0.94 EPS for the current year.

Figure Technology Solutions declared that its board has approved a stock repurchase program on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total value of $73,176.93. Following the completion of the sale, the chief executive officer owned 3,193,641 shares of the company’s stock, valued at $115,066,885.23. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the sale, the chief financial officer directly owned 507,651 shares of the company’s stock, valued at $15,259,989.06. The trade was a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 471,337 shares of company stock worth $16,680,183 in the last quarter. 26.60% of the stock is owned by corporate insiders.

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.