Wellington Management Group LLP Has $8.53 Million Position in Figure Technology Solutions, Inc. $FIGR

Wellington Management Group LLP increased its stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 26.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 277,624 shares of the company’s stock after buying an additional 58,100 shares during the period. Wellington Management Group LLP owned 0.15% of Figure Technology Solutions worth $8,526,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter worth approximately $25,000. Strs Ohio bought a new position in shares of Figure Technology Solutions during the fourth quarter worth approximately $34,000. MetLife Investment Management LLC acquired a new stake in Figure Technology Solutions during the 4th quarter worth approximately $35,000. WPG Advisers LLC lifted its holdings in Figure Technology Solutions by 71.1% during the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Figure Technology Solutions in the 4th quarter valued at $41,000.

Insider Activity

In other Figure Technology Solutions news, CFO Minchung Kgil sold 9,117 shares of Figure Technology Solutions 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 completion of the sale, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, insider David Stevens sold 47,650 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. This trade represents a 11.23% 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. Over the last three months, insiders sold 80,767 shares of company stock valued at $2,542,154. Corporate insiders own 26.60% of the company’s stock.

Figure Technology Solutions Trading Up 6.4%

NASDAQ:FIGR opened at $38.26 on Wednesday. Figure Technology Solutions, Inc. has a 52 week low of $24.11 and a 52 week high of $78.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. The firm’s fifty day moving average is $32.16 and its 200-day moving average is $32.74. The firm has a market cap of $7.10 billion and a P/E ratio of 41.14.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $218.45 million during the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. Equities analysts expect that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research note on Thursday, August 20th. Sanford C. Bernstein raised 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. Weiss Ratings upgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Piper Sandler dropped their price objective on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.62.

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.