Black Swift Group LLC Makes New $1.02 Million Investment in Figure Technology Solutions, Inc. $FIGR

Black Swift Group LLC purchased a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $1,021,000.

A number of other large investors also recently made changes to their positions in FIGR. Norges Bank purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth $32,672,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth $5,041,000. Baker Avenue Asset Management LP purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth $2,342,000. Geode Capital Management LLC raised its position in shares of Figure Technology Solutions by 448.9% in the 4th quarter. Geode Capital Management LLC now owns 808,874 shares of the company’s stock worth $33,042,000 after buying an additional 661,498 shares during the period. Finally, Royce & Associates LP raised its position in shares of Figure Technology Solutions by 203.2% in the 4th quarter. Royce & Associates LP now owns 95,532 shares of the company’s stock worth $3,902,000 after buying an additional 64,023 shares during the period.

Figure Technology Solutions Price Performance

FIGR stock opened at $35.35 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The stock’s 50 day moving average is $35.08 and its two-hundred day moving average is $40.06. The company has a market capitalization of $6.46 billion and a PE ratio of 60.95.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Analysts predict that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Figure Technology Solutions declared that its Board of Directors has approved a share buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director June Ou sold 67,840 shares of Figure Technology Solutions stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sachin Chand Jaitly sold 216,713 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total value of $7,290,225.32. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 728,641 shares of company stock valued at $25,288,002. 26.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group cut their target price on 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. Bank of America cut their target price 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. Finally, Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

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.