58,609 Figure Technology Solutions, Inc. $FIGR Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division lifted its position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 106.3% in the third quarter, HoldingsChannel.com reports. The firm owned 113,759 shares of the company’s stock after purchasing an additional 58,609 shares during the quarter. Moody National Bank Trust Division’s holdings in Figure Technology Solutions were worth $3,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whetstone Capital Advisors LLC purchased a new position in Figure Technology Solutions in the second quarter worth about $6,939,000. Engineers Gate Manager LP purchased a new position in shares of Figure Technology Solutions in the 2nd quarter valued at $3,398,000. Integrated Wealth Concepts LLC purchased a new stake in Figure Technology Solutions during the second quarter valued at approximately $47,000. Arizona State Retirement System purchased a new stake in shares of Figure Technology Solutions during the second quarter worth about $278,000. Finally, Waverly Advisors LLC increased its position in shares of Figure Technology Solutions by 78.1% in the 2nd quarter. Waverly Advisors LLC now owns 53,089 shares of the company’s stock valued at $1,630,000 after acquiring an additional 23,277 shares during the period.

Figure Technology Solutions Trading Down 2.1%

Shares of FIGR stock traded down $0.59 during mid-day trading on Tuesday, hitting $27.35. 3,020,519 shares of the company’s stock were exchanged, compared to its average volume of 4,626,813. The stock has a market cap of $5.08 billion and a price-to-earnings ratio of 29.41. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. Figure Technology Solutions, Inc. has a fifty-two week low of $24.11 and a fifty-two week high of $78.00. The stock has a 50-day simple moving average of $32.87 and a two-hundred day simple moving average of $32.79.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The business had revenue of $218.45 million for the quarter. Equities analysts expect that Figure Technology Solutions, Inc. will post 1.2 EPS for the current fiscal year.

Analysts Set New Price Targets

FIGR has been the subject of several recent research reports. Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research upgraded Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Sanford C. Bernstein increased their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Bank of America restated a “neutral” rating and issued a $44.00 price objective on shares of Figure Technology Solutions in a report on Monday. Finally, Keefe, Bruyette & Woods dropped their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Insider Activity

In other news, CFO Minchung Kgil sold 8,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the transaction, the chief financial officer directly owned 483,651 shares of the company’s stock, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the transaction, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 63,650 shares of company stock valued at $2,037,417 over the last ninety days. Company insiders own 26.60% of the company’s stock.

Figure Technology Solutions Profile

Figure Technology Solutions, Inc is a financial technology company that develops blockchain- and artificial intelligence-enabled solutions for lending and financial services. The company’s technology is designed to support the origination, servicing, financing and trading of financial assets through more efficient digital processes.

Figure’s business activities have included home equity lending, personal lending, mortgage-related services and financial asset marketplaces. Its platform has also been used to facilitate the issuance and transfer of loans and other financial products, with blockchain technology intended to improve transparency, settlement and recordkeeping.

The company was founded by Mike Cagney, who previously co-founded Social Finance, Inc (SoFi), and Figure has operated primarily in the United States.