Sei Investments Co. Acquires 127,120 Shares of Figure Technology Solutions, Inc. $FIGR

Sei Investments Co. raised its stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 97.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 257,181 shares of the company’s stock after acquiring an additional 127,120 shares during the quarter. Sei Investments Co.’s holdings in Figure Technology Solutions were worth $8,732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FIGR. Duquesne Family Office LLC bought a new stake in shares of Figure Technology Solutions during the 3rd quarter worth about $76,989,000. Fred Alger Management LLC acquired a new position in Figure Technology Solutions during the fourth quarter valued at approximately $67,386,000. Pantera Capital Partners LP bought a new position in shares of Figure Technology Solutions in the third quarter valued at approximately $56,114,000. Balyasny Asset Management L.P. acquired a new stake in shares of Figure Technology Solutions in the third quarter worth $36,087,000. Finally, Alliancebernstein L.P. acquired a new position in Figure Technology Solutions in the 3rd quarter valued at $34,626,000.

Insider Transactions at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 14,871 shares of Figure Technology Solutions stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $37.27, for a total value of $554,242.17. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $119,027,000.07. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the transaction, the chief financial officer directly owned 507,651 shares in the company, valued at $15,259,989.06. This trade represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,463 shares of company stock worth $5,926,353 over the last ninety days. 26.60% of the stock is currently owned by insiders.

Figure Technology Solutions Stock Performance

Figure Technology Solutions stock opened at $24.91 on Friday. Figure Technology Solutions, Inc. has a 12-month low of $24.28 and a 12-month high of $78.00. The stock has a 50-day simple moving average of $30.03 and a 200 day simple moving average of $36.39. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.55 billion and a price-to-earnings ratio of 42.95.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. On average, research analysts anticipate that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on FIGR. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Keefe, Bruyette & Woods reduced 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. Finally, Piper Sandler dropped their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

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.