BIT Capital GmbH Raises Stock Holdings in Figure Technology Solutions, Inc. $FIGR

BIT Capital GmbH boosted its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 23.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,752 shares of the company’s stock after buying an additional 50,541 shares during the period. BIT Capital GmbH’s holdings in Figure Technology Solutions were worth $10,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orland Properties Ltd purchased a new position in shares of Figure Technology Solutions in the third quarter valued at approximately $319,187,000. Vanguard Group Inc. boosted its holdings in Figure Technology Solutions by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after purchasing an additional 452,136 shares in the last quarter. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions during the third quarter worth approximately $76,989,000. Pantera Capital Partners LP purchased a new position in shares of Figure Technology Solutions during the third quarter worth approximately $56,114,000. Finally, Capital World Investors acquired a new stake in shares of Figure Technology Solutions during the third quarter worth $50,918,000.

Figure Technology Solutions Stock Performance

FIGR stock opened at $28.49 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.20 billion and a P/E ratio of 49.12. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The stock’s 50 day simple moving average is $34.91 and its 200 day simple moving average is $39.83.

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

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

Analyst Upgrades and Downgrades

FIGR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Mizuho lifted their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group lowered their price target on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.63.

Insider Transactions at Figure Technology Solutions

In related 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 value of $1,344,258.00. Following the completion of the sale, the director directly owned 35,190 shares of the company’s stock, valued at approximately $1,344,258. This represents a 50.00% decrease in their position. The sale was disclosed in a legal 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 8,000 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $32.25, for a total value of $258,000.00. Following the transaction, the chief financial officer directly owned 548,098 shares in the company, valued at approximately $17,676,160.50. This represents a 1.44% decrease in their position. 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. In the last 90 days, insiders sold 728,641 shares of company stock worth $25,288,002. 26.60% of the stock is currently owned by company insiders.

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.