Wildcat Capital Management LLC Purchases New Shares in Figure Technology Solutions, Inc. $FIGR

Wildcat Capital Management LLC purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,299 shares of the company’s stock, valued at approximately $845,000. Figure Technology Solutions comprises about 0.5% of Wildcat Capital Management LLC’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of FIGR. Granahan Investment Management LLC increased its stake in Figure Technology Solutions by 40.6% in the 1st quarter. Granahan Investment Management LLC now owns 935,400 shares of the company’s stock valued at $31,757,000 after buying an additional 269,882 shares during the period. Brooklands Fund Management Ltd acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $24,600,000. Maplelane Capital LLC purchased a new position in shares of Figure Technology Solutions in the first quarter valued at $23,120,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in Figure Technology Solutions by 13.6% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 446,481 shares of the company’s stock worth $15,158,000 after acquiring an additional 53,434 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Figure Technology Solutions in the second quarter worth $10,875,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FIGR shares. The Goldman Sachs Group set a $41.00 price target on Figure Technology Solutions in a report on Wednesday, October 7th. Freedom Broker upgraded Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, October 15th. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Bank of America restated a “neutral” rating and issued a $44.00 price target on shares of Figure Technology Solutions in a report on Monday, October 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Figure Technology Solutions in a research note on Wednesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $53.57.

Figure Technology Solutions Trading Down 8.5%

NASDAQ FIGR opened at $21.58 on Friday. The stock has a market cap of $4.01 billion and a P/E ratio of 23.20. The company’s fifty day simple moving average is $31.06 and its 200-day simple moving average is $34.50. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. Figure Technology Solutions, Inc. has a 52 week low of $20.92 and a 52 week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The business had revenue of $218.45 million during the quarter. Equities research analysts predict that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity

In other news, insider David Stevens sold 47,650 shares of Figure Technology Solutions stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the sale, the chief financial officer owned 483,651 shares in the company, valued at $18,712,457.19. This represents a 1.63% 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. Insiders have sold 59,650 shares of company stock valued at $1,924,897 over the last 90 days. Insiders own 26.60% of the company’s stock.

About Figure Technology Solutions

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.