Granahan Investment Management LLC Buys 206,924 Shares of Figure Technology Solutions, Inc. $FIGR

Granahan Investment Management LLC raised its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 45.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 665,518 shares of the company’s stock after purchasing an additional 206,924 shares during the quarter. Figure Technology Solutions accounts for 1.2% of Granahan Investment Management LLC’s portfolio, making the stock its 26th biggest position. Granahan Investment Management LLC owned 0.38% of Figure Technology Solutions worth $27,180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $25,000. Strs Ohio bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $34,000. MetLife Investment Management LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $35,000. Flagship Harbor Advisors LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $40,000. Finally, Johnson Financial Group Inc. bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $41,000.

Insider Transactions at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total value of $73,176.93. Following the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. This represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 511,928 shares of company stock valued at $17,997,776. 26.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FIGR. Mizuho boosted their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Sanford C. Bernstein reduced their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Figure Technology Solutions has an average rating of “Moderate Buy” and an average price target of $53.63.

Figure Technology Solutions Price Performance

Shares of FIGR stock opened at $29.65 on Wednesday. The stock has a market cap of $5.41 billion and a price-to-earnings ratio of 51.12. The business’s fifty day moving average is $34.30 and its 200 day moving average is $39.44. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month 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.

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, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Research analysts expect that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions announced that its board has approved a share repurchase program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.