Legato Capital Management LLC Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Legato Capital Management LLC bought a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,665 shares of the company’s stock, valued at approximately $715,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in Figure Technology Solutions during the third quarter worth approximately $64,000. SBI Securities Co. Ltd. acquired a new position in Figure Technology Solutions in the 3rd quarter valued at $66,000. PNC Financial Services Group Inc. bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at $73,000. Ameritas Advisory Services LLC acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter worth $200,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter worth $255,000.

Figure Technology Solutions Trading Up 7.1%

FIGR stock opened at $30.49 on Thursday. The business has a 50-day moving average of $47.08. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The company has a market capitalization of $5.37 billion and a PE ratio of 89.68.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The firm’s revenue was up 90.7% compared to the same quarter last year.

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

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Todd Stevens sold 26,057 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total value of $833,824.00. Following the completion of the transaction, the insider owned 462,943 shares of the company’s stock, valued at $14,814,176. This represents a 5.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director June Ou sold 200,058 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 426,173 shares of company stock worth $16,598,394.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FIGR shares. Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a research note on Tuesday, February 3rd. Zacks Research cut shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Piper Sandler upped their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Finally, Sanford C. Bernstein lifted their price objective on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of $55.75.

Figure Technology Solutions 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.