Handelsbanken Fonder AB Takes $1.37 Million Position in Figure Technology Solutions, Inc. $FIGR

Handelsbanken Fonder AB acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the second quarter, HoldingsChannel reports. The fund acquired 44,600 shares of the company’s stock, valued at approximately $1,370,000.

A number of other institutional investors have also made changes to their positions in FIGR. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter valued at $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 bought a new position in Figure Technology Solutions during the 4th quarter worth $35,000. WPG Advisers LLC raised its stake in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after purchasing an additional 388 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Figure Technology Solutions in the 4th quarter valued at approximately $41,000.

Figure Technology Solutions Trading Down 0.7%

NASDAQ:FIGR opened at $35.52 on Wednesday. The firm has a market cap of $6.49 billion and a price-to-earnings ratio of 38.19. 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 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50-day moving average price of $29.56 and a two-hundred day moving average price of $33.29.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly 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 company had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 19.58%. On average, equities analysts expect that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Todd Stevens sold 47,650 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the transaction, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. This represents a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 dated Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the sale, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $15,259,989.06. This trade represents a 1.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,767 shares of company stock worth $2,232,634 in the last ninety days. Insiders own 26.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FIGR shares. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Mizuho raised their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Sanford C. Bernstein upped their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Piper Sandler reduced 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 report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reduced their target price on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.