Moody National Bank Trust Division Invests $1.75 Million in Figure Technology Solutions, Inc. $FIGR

Moody National Bank Trust Division acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 42,727 shares of the company’s stock, valued at approximately $1,745,000.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. bought a new position in Figure Technology Solutions in the third quarter valued at approximately $64,000. SBI Securities Co. Ltd. acquired a new stake in shares of Figure Technology Solutions during the third quarter worth $66,000. PNC Financial Services Group Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter worth $73,000. BNP Paribas Financial Markets bought a new stake in Figure Technology Solutions in the 3rd quarter valued at $102,000. Finally, Ameritas Advisory Services LLC acquired a new position in Figure Technology Solutions in the 3rd quarter worth $200,000.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $33.25 on Wednesday. The firm has a market cap of $5.90 billion and a P/E ratio of 83.13. The business’s 50-day simple moving average is $42.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.20 and a current ratio of 2.20. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00.

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

Figure Technology Solutions declared that its board has authorized a stock repurchase program on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have issued reports on FIGR. Sanford C. Bernstein lifted their price target on 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 report on Wednesday, February 11th. The Goldman Sachs Group dropped their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Piper Sandler raised their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.63.

Insider Activity at Figure Technology Solutions

In other news, Director Sachin Chand Jaitly sold 216,713 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Todd Stevens sold 49,708 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total value of $1,591,650.16. Following the completion of the sale, the insider directly owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. The trade was a 10.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 292,478 shares of company stock worth $9,715,699 in the last ninety days.

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.