ACT Capital Management LLC Invests $2.35 Million in Figure Technology Solutions, Inc. $FIGR

ACT Capital Management LLC purchased a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 57,500 shares of the company’s stock, valued at approximately $2,348,000. Figure Technology Solutions comprises about 1.9% of ACT Capital Management LLC’s investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. Freestone Grove Partners LP increased its stake in Figure Technology Solutions by 236.3% in the fourth quarter. Freestone Grove Partners LP now owns 400,000 shares of the company’s stock valued at $16,336,000 after purchasing an additional 281,051 shares during the last quarter. Burkehill Global Management LP increased its stake in Figure Technology Solutions by 16.7% in the fourth quarter. Burkehill Global Management LP now owns 700,000 shares of the company’s stock valued at $28,588,000 after purchasing an additional 100,000 shares during the last quarter. Cetera Investment Advisers acquired a new position in Figure Technology Solutions in the fourth quarter valued at $749,000. Lazard Asset Management LLC increased its stake in Figure Technology Solutions by 71.0% in the fourth quarter. Lazard Asset Management LLC now owns 160,680 shares of the company’s stock valued at $6,562,000 after purchasing an additional 66,733 shares during the last quarter. Finally, Sandia Investment Management LP increased its stake in Figure Technology Solutions by 17.6% in the fourth quarter. Sandia Investment Management LP now owns 10,000 shares of the company’s stock valued at $408,000 after purchasing an additional 1,500 shares during the last quarter.

Insider Transactions at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 9,117 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the transaction, the chief financial officer owned 507,651 shares of the company’s stock, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Todd Stevens sold 47,064 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the transaction, the insider directly owned 406,051 shares of the company’s stock, valued at $17,196,259.85. This represents a 10.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 471,337 shares of company stock valued at $16,680,183 in the last three months. 26.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FIGR shares. Sanford C. Bernstein lowered their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Bank of America lowered their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and an average price target of $53.63.

Figure Technology Solutions Trading Down 7.6%

Shares of FIGR opened at $27.40 on Thursday. The company has a market capitalization of $5.00 billion and a P/E ratio of 47.24. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year 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 stock has a 50-day moving average price of $34.20 and a 200 day moving average price of $39.39.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. Sell-side analysts forecast that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership 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.