Prospera Financial Services Inc Takes $1.02 Million Position in Figure Technology Solutions, Inc. $FIGR

Prospera Financial Services Inc purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,982 shares of the company’s stock, valued at approximately $1,020,000.

A number of other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at $8,183,000. Lisanti Capital Growth LLC acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at $3,780,000. JPMorgan Chase & Co. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at $15,529,000. BIT Capital GmbH acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at $7,718,000. Finally, Fidelity National Financial Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at $9,092,000.

Analyst Upgrades and Downgrades

FIGR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Bank of America decreased their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. The Goldman Sachs Group decreased their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $34.73 on Friday. The firm has a market capitalization of $6.34 billion and a P/E ratio of 59.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The business’s 50-day simple moving average is $35.05 and its 200-day simple moving average is $40.07.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. Equities 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 repurchase program on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Michael Scott Cagney sold 67,840 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the transaction, the director directly owned 67,840 shares of the company’s stock, valued at approximately $2,387,289.60. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 49,708 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $32.02, for a total value of $1,591,650.16. Following the transaction, the insider directly owned 436,089 shares in the company, valued at $13,963,569.78. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 728,641 shares of company stock worth $25,288,002 in the last ninety days. 26.60% of the stock is currently owned by company insiders.

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.