105,625 Shares in Figure Technology Solutions, Inc. $FIGR Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 105,625 shares of the company’s stock, valued at approximately $3,842,000.

Other large investors have also recently bought and sold shares of the company. Voya Investment Management LLC acquired a new stake in Figure Technology Solutions in the third quarter worth $721,000. Exchange Traded Concepts LLC bought a new position in shares of Figure Technology Solutions during the third quarter worth $5,963,000. Blue Trust Inc. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at $64,000. Hennessy Advisors Inc. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at $255,000. Finally, CWA Asset Management Group LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $1,412,000.

Wall Street Analysts Forecast Growth

FIGR has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Needham & Company LLC lowered their price target on Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a report on Friday, February 27th. Piper Sandler raised their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Finally, The Goldman Sachs Group decreased their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.63.

Insider Transactions at Figure Technology Solutions

In related news, insider David Todd Stevens sold 26,057 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00. Following the completion of the transaction, the insider directly owned 462,943 shares in the company, valued at approximately $14,814,176. This trade represents a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sachin Chand Jaitly sold 216,713 shares of Figure Technology Solutions stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total value of $7,290,225.32. The SEC filing for this sale provides additional information.

Figure Technology Solutions Trading Up 3.7%

FIGR opened at $34.29 on Friday. The company has a market cap of $6.08 billion and a PE ratio of 85.73. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The company has a fifty day moving average of $43.78. The company has a quick ratio of 2.26, a current ratio of 2.20 and a debt-to-equity ratio of 0.19.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The business had revenue of $157.63 million during the quarter, compared to analysts’ expectations of $158.00 million. Figure Technology Solutions’s revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its Board of Directors has approved a stock buyback program on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Figure Technology Solutions 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.