Figure Technology Solutions, Inc.’s Lock-Up Period Will Expire on March 10th (NASDAQ:FIGR)

Figure Technology Solutions’ (NASDAQ:FIGR) lock-up period is set to expire on Tuesday, March 10th. Figure Technology Solutions had issued 31,500,000 shares in its public offering on September 11th. The total size of the offering was $787,500,000 based on an initial share price of $25.00. After the end of Figure Technology Solutions’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FIGR shares. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. 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. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. The Goldman Sachs Group decreased their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Finally, Mizuho raised their target price on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Figure Technology Solutions Price Performance

FIGR opened at $30.48 on Friday. The stock has a market cap of $5.37 billion and a price-to-earnings ratio of 76.20. Figure Technology Solutions has a one year low of $25.01 and a one year high of $78.00. The firm’s fifty day moving average price is $46.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26.

Figure Technology Solutions (NASDAQ:FIGR) last issued 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 during the quarter, compared to the consensus estimate of $158.00 million. The company’s quarterly revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its board has authorized a stock repurchase plan on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Figure Technology Solutions

In other news, Director June Ou sold 200,058 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Scott Cagney sold 200,058 shares of Figure Technology Solutions stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total transaction of $7,882,285.20. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 426,173 shares of company stock valued at $16,598,394.

Hedge Funds Weigh In On Figure Technology Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of FIGR. Orland Properties Ltd bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $319,187,000. J Digital 6 LLC grew its position in Figure Technology Solutions by 9.1% during the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock valued at $133,816,000 after acquiring an additional 274,145 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after acquiring an additional 452,136 shares in the last quarter. Duquesne Family Office LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $76,989,000. Finally, Fred Alger Management LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at $67,386,000.

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.