Figure Technology Solutions, Inc. $FIGR is Orland Properties Ltd’s Largest Position

Orland Properties Ltd lessened its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 54.9% during the 1st quarter, HoldingsChannel reports. The firm owned 3,957,647 shares of the company’s stock after selling 4,818,466 shares during the quarter. Figure Technology Solutions accounts for about 50.4% of Orland Properties Ltd’s investment portfolio, making the stock its biggest holding. Orland Properties Ltd’s holdings in Figure Technology Solutions were worth $134,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIGR. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions during the 3rd quarter valued at approximately $76,989,000. Fred Alger Management LLC acquired a new position in shares of Figure Technology Solutions in the 4th quarter valued at $67,386,000. Pantera Capital Partners LP purchased a new stake in Figure Technology Solutions during the third quarter worth $56,114,000. Balyasny Asset Management L.P. purchased a new stake in Figure Technology Solutions during the third quarter worth $36,087,000. Finally, Alliancebernstein L.P. acquired a new stake in Figure Technology Solutions during the third quarter valued at $34,626,000.

Insiders Place Their Bets

In related news, CFO Minchung Kgil sold 9,117 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02. Following the completion of the sale, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $15,259,989.06. The trade was a 1.76% 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. Also, Director June Ou sold 35,190 shares of the 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 343,657 shares of company stock valued at $12,136,284. 26.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on FIGR shares. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Bank of America lowered their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods cut their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Finally, Wall Street Zen cut Figure Technology Solutions from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $50.25.

Figure Technology Solutions Stock Down 6.2%

Shares of NASDAQ FIGR opened at $28.97 on Friday. The company’s 50-day simple moving average is $32.11 and its 200-day simple moving average is $37.85. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The firm has a market cap of $5.29 billion and a price-to-earnings ratio of 49.95. 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 quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. Equities analysts predict that Figure Technology Solutions, Inc. will post 0.92 EPS for the current fiscal year.

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.