Capital World Investors Buys 58,424 Shares of Figure Technology Solutions, Inc. $FIGR

Capital World Investors raised its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,458,424 shares of the company’s stock after acquiring an additional 58,424 shares during the period. Capital World Investors’ holdings in Figure Technology Solutions were worth $59,562,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FIGR. Global Retirement Partners LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at $25,000. Strs Ohio bought a new stake in Figure Technology Solutions in the fourth quarter valued at $34,000. Flagship Harbor Advisors LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at $40,000. SBI Securities Co. Ltd. bought a new stake in Figure Technology Solutions in the third quarter valued at $66,000. Finally, PNC Financial Services Group Inc. bought a new stake in Figure Technology Solutions in the third quarter valued at $73,000.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $28.28 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $5.16 billion and a P/E ratio of 48.76. The business’s fifty day moving average is $34.77 and its two-hundred day moving average is $39.67. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. Equities research analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the transaction, the chief executive officer owned 3,250,466 shares of the company’s stock, valued at $108,403,041.10. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 67,840 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. Following the transaction, the director directly owned 67,840 shares in the company, valued at $2,387,289.60. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 511,928 shares of company stock valued at $17,997,776 over the last ninety days. Company insiders own 26.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FIGR. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group lowered their price target 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. 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. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Finally, Bank of America reduced their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.63.

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.