Bank of Hawaii Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Bank of Hawaii purchased a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 4th quarter, Holdings Channel reports. The fund purchased 26,623 shares of the company’s stock, valued at approximately $1,087,000.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in Figure Technology Solutions by 66.5% during the 4th quarter. Invesco Ltd. now owns 1,165,385 shares of the company’s stock worth $47,594,000 after purchasing an additional 465,606 shares during the period. Alpine Woods Capital Investors LLC bought a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $1,897,000. Prana Capital Management LP purchased a new stake in Figure Technology Solutions in the fourth quarter worth about $2,617,000. Quadrature Capital Ltd purchased a new stake in Figure Technology Solutions in the fourth quarter worth about $4,022,000. Finally, Concentric Capital Strategies LP bought a new position in Figure Technology Solutions during the 4th quarter worth about $15,467,000.

Wall Street Analyst Weigh In

A number of research firms have commented on FIGR. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Mizuho increased their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Sanford C. Bernstein cut their price objective on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Finally, Bank of America lowered their target price on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.62.

Figure Technology Solutions Stock Performance

NASDAQ:FIGR opened at $28.55 on Friday. The stock has a market capitalization of $5.21 billion and a price-to-earnings ratio of 49.22. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $34.04 and a 200 day moving average of $39.26.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, sell-side analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Insider Activity

In other Figure Technology Solutions 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the sale, the insider directly owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. This represents a 10.39% 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. Insiders sold 471,337 shares of company stock worth $16,680,183 over the last quarter. Company insiders own 26.60% of the company’s stock.

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.