J Digital 6 LLC Trims Stake in Figure Technology Solutions, Inc. $FIGR

J Digital 6 LLC decreased its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 27.9% during the second quarter, Holdings Channel.com reports. The firm owned 2,227,014 shares of the company’s stock after selling 862,337 shares during the period. Figure Technology Solutions accounts for about 40.4% of J Digital 6 LLC’s portfolio, making the stock its largest position. J Digital 6 LLC’s holdings in Figure Technology Solutions were worth $68,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Werlinich Asset Management LLC increased its holdings in shares of Figure Technology Solutions by 8.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 14,950 shares of the company’s stock worth $459,000 after buying an additional 1,115 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Figure Technology Solutions by 16.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company’s stock valued at $215,000 after buying an additional 966 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Figure Technology Solutions by 26.5% in the 2nd quarter. Wellington Management Group LLP now owns 277,624 shares of the company’s stock valued at $8,526,000 after acquiring an additional 58,100 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Figure Technology Solutions in the second quarter worth about $1,238,000. Finally, Ninepoint Partners LP purchased a new position in Figure Technology Solutions in the second quarter worth about $746,000.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $35.96 on Friday. 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 company has a market capitalization of $6.68 billion and a PE ratio of 38.67. The company has a 50-day simple moving average of $31.83 and a two-hundred day simple moving average of $32.75. Figure Technology Solutions, Inc. has a one year low of $24.11 and a one year high of $78.00.

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

Analyst Ratings Changes

FIGR has been the subject of several analyst reports. Weiss Ratings raised Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Piper Sandler cut their target price on 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. Sanford C. Bernstein increased their price target on Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Mizuho lifted their price objective on shares of 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 cut their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.62.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the sale, 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. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the transaction, the chief financial officer directly owned 483,651 shares of the company’s stock, valued at $18,712,457.19. The trade was a 1.63% 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 quarter, insiders sold 80,767 shares of company stock valued at $2,542,154. 26.60% of the stock is currently owned by company 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.