Lazard Asset Management LLC Has $4.26 Million Position in Figure Technology Solutions, Inc. $FIGR

Lazard Asset Management LLC cut its position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,601 shares of the company’s stock after selling 35,079 shares during the quarter. Lazard Asset Management LLC owned 0.07% of Figure Technology Solutions worth $4,264,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FIGR. Victory Capital Management Inc. acquired a new position in shares of Figure Technology Solutions in the third quarter valued at approximately $9,221,000. Franklin Resources Inc. bought a new position in Figure Technology Solutions in the 3rd quarter valued at approximately $5,456,000. BNP Paribas Financial Markets acquired a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $102,000. UBS Group AG acquired a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $7,620,000. Finally, Invesco Ltd. bought a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $25,451,000.

Analyst Upgrades and Downgrades

FIGR has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. Wall Street Zen cut shares of Figure Technology Solutions from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Piper Sandler lowered their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their target price on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.25.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $24.91 on Friday. The company has a market cap of $4.55 billion and a price-to-earnings ratio of 42.95. Figure Technology Solutions, Inc. has a 52 week low of $24.28 and a 52 week high of $78.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $30.03 and a 200-day moving average of $36.39.

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, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, equities analysts forecast that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

Insider Transactions at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total transaction of $73,176.93. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $28.13, for a total value of $112,520.00. Following the completion of the sale, the chief financial officer owned 495,651 shares of the company’s stock, valued at approximately $13,942,662.63. This represents a 0.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 155,463 shares of company stock valued at $5,926,353. 26.60% of the stock is owned by 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.