Feynman Point Asset Management LLC Takes Position in Figure Technology Solutions, Inc. $FIGR

Feynman Point Asset Management LLC purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 84,400 shares of the company’s stock, valued at approximately $2,865,000. Figure Technology Solutions comprises about 3.5% of Feynman Point Asset Management LLC’s investment portfolio, making the stock its 4th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC grew its holdings in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after buying an additional 388 shares in the last quarter. State of Wyoming raised its holdings in shares of Figure Technology Solutions by 14.8% during the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock worth $131,000 after acquiring an additional 498 shares during the period. Arcus Capital Partners LLC boosted its position in shares of Figure Technology Solutions by 7.9% during the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after acquiring an additional 541 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $25,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Figure Technology Solutions by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after purchasing an additional 616 shares during the period.

Figure Technology Solutions Trading Down 4.4%

NASDAQ FIGR opened at $27.55 on Wednesday. The firm’s 50-day moving average is $30.61 and its two-hundred day moving average is $36.93. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $5.03 billion and a P/E ratio of 47.50.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, sell-side analysts anticipate that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FIGR shares. Bank of America reduced their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. Piper Sandler cut their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods lowered their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

Insider Activity

In other Figure Technology Solutions news, CFO Minchung Kgil sold 9,117 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.06, for a total value of $274,057.02. Following the sale, the chief financial officer owned 507,651 shares of the company’s stock, valued at $15,259,989.06. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Scott Cagney sold 35,190 shares of the company’s 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. Following the transaction, the director owned 35,190 shares in the company, valued at $1,344,258. This trade represents a 50.00% decrease in their ownership of the stock. 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 155,463 shares of company stock worth $5,926,353 in the last three months. 26.60% of the stock is currently owned by corporate insiders.

About Figure Technology Solutions

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.