Capital World Investors Has $59.56 Million Position in Figure Technology Solutions, Inc. $FIGR

Capital World Investors increased its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 4.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,458,424 shares of the company’s stock after purchasing an additional 58,424 shares during the quarter. Capital World Investors owned approximately 0.83% of Figure Technology Solutions worth $59,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BIT Capital GmbH lifted its holdings in Figure Technology Solutions by 23.8% in the 4th quarter. BIT Capital GmbH now owns 262,752 shares of the company’s stock worth $10,731,000 after purchasing an additional 50,541 shares during the last quarter. State of Wyoming acquired a new stake in Figure Technology Solutions in the 4th quarter worth approximately $137,000. Black Swift Group LLC acquired a new stake in Figure Technology Solutions in the 4th quarter worth approximately $1,021,000. Norges Bank acquired a new stake in Figure Technology Solutions in the 4th quarter worth approximately $32,672,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Figure Technology Solutions in the 4th quarter worth approximately $5,041,000.

Analyst Ratings Changes

Several research firms recently weighed in on FIGR. The Goldman Sachs Group reduced their target price 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. Sanford C. Bernstein reduced their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Mizuho lifted their price target 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. Finally, Bank of America dropped their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR opened at $28.28 on Wednesday. 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 business’s 50 day moving average is $34.77 and its two-hundred day moving average is $39.67. The company has a market cap of $5.16 billion and a P/E ratio of 48.76. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. On average, equities analysts expect that Figure Technology Solutions, Inc. will post 0.94 EPS for the current year.

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

Insider Buying and Selling at Figure Technology Solutions

In other news, insider David Todd Stevens sold 47,064 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the sale, the insider directly owned 406,051 shares in the company, valued at approximately $17,196,259.85. The trade was a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $32.25, for a total value of $258,000.00. Following the sale, the chief financial officer owned 548,098 shares in the company, valued at approximately $17,676,160.50. This represents a 1.44% decrease in their ownership of the stock. 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 sold a total of 511,928 shares of company stock valued at $17,997,776 in the last quarter. 26.60% of the stock is currently owned by corporate insiders.

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.