Zweig DiMenna Associates LLC Trims Stock Holdings in Figure Technology Solutions, Inc. $FIGR

Zweig DiMenna Associates LLC lowered its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 13.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 254,400 shares of the company’s stock after selling 40,100 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Figure Technology Solutions were worth $10,390,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Orland Properties Ltd purchased a new position in Figure Technology Solutions during the 3rd quarter valued at $319,187,000. Vanguard Group Inc. boosted its holdings in Figure Technology Solutions by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after acquiring an additional 452,136 shares during the period. Duquesne Family Office LLC purchased a new position in Figure Technology Solutions during the 3rd quarter valued at $76,989,000. Pantera Capital Partners LP purchased a new position in Figure Technology Solutions during the 3rd quarter valued at $56,114,000. Finally, Capital World Investors purchased a new position in Figure Technology Solutions during the 3rd quarter valued at $50,918,000.

Figure Technology Solutions Stock Up 1.8%

Shares of NASDAQ:FIGR opened at $35.35 on Friday. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The stock has a market cap of $6.46 billion and a P/E ratio of 60.95. The business’s 50 day moving average is $35.08 and its 200 day moving average is $40.04. 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 announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Sell-side analysts predict that Figure Technology Solutions, Inc. will post 0.94 EPS for the current year.

Figure Technology Solutions announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America dropped their price objective on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. The Goldman Sachs Group dropped their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Mizuho increased their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.63.

Insider Buying and Selling

In related news, Director Sachin Chand Jaitly sold 216,713 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total value of $7,290,225.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director June Ou sold 67,840 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 728,641 shares of company stock valued at $25,288,002 over the last 90 days. 26.60% of the stock is owned by insiders.

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.