Next Century Growth Investors LLC Takes $6.41 Million Position in Figure Technology Solutions, Inc. $FIGR

Next Century Growth Investors LLC acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 157,017 shares of the company’s stock, valued at approximately $6,413,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $25,000. Strs Ohio purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $34,000. MetLife Investment Management LLC purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $35,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $40,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $41,000.

Analysts Set New Price Targets

FIGR has been the subject of several analyst reports. Sanford C. Bernstein decreased their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reduced their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Mizuho raised their target price 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. Finally, Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.63.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $27.93 on Monday. The firm has a market capitalization of $5.10 billion and a price-to-earnings ratio of 48.16. 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 business has a fifty day moving average of $34.50 and a 200 day moving average of $39.52. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, research analysts expect that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

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

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 35,190 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the sale, the director directly owned 35,190 shares of the company’s stock, valued at approximately $1,344,258. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $42.35, for a total value of $1,993,160.40. Following the sale, the insider directly owned 406,051 shares in the company, valued at $17,196,259.85. This represents a 10.39% 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 sold 511,928 shares of company stock worth $17,997,776 in the last three months. Company insiders own 26.60% of the company’s stock.

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.