Elevation Point Wealth Partners LLC Takes $575,000 Position in Figure Technology Solutions, Inc. $FIGR

Elevation Point Wealth Partners LLC purchased a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 16,939 shares of the company’s stock, valued at approximately $575,000.

A number of other institutional investors have also recently bought and sold shares of FIGR. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions during the 4th quarter worth approximately $25,000. Strs Ohio acquired a new stake in Figure Technology Solutions during the 4th quarter valued at $34,000. MetLife Investment Management LLC bought a new position in Figure Technology Solutions during the fourth quarter worth $35,000. Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions during the fourth quarter worth $40,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of Figure Technology Solutions in the fourth quarter valued at $41,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein dropped 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 research report on Monday, March 30th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Bank of America lowered their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Finally, Mizuho boosted their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Two research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.62.

Figure Technology Solutions Trading Down 9.8%

FIGR stock opened at $31.05 on Wednesday. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The company has a market capitalization of $5.67 billion and a PE ratio of 53.53. The company’s 50-day simple moving average is $32.92 and its 200 day simple moving average is $38.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90.

Figure Technology Solutions (NASDAQ:FIGR) last posted 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 business 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 year.

Insiders Place Their Bets

In other news, Director Michael Scott Cagney sold 35,190 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the sale, the director directly owned 35,190 shares of the company’s stock, valued at approximately $1,344,258. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total value of $73,176.93. Following the completion of the transaction, the chief executive officer owned 3,193,641 shares in the company, valued at $115,066,885.23. The trade was a 0.06% 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 sold a total of 479,337 shares of company stock valued at $16,910,863 in 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.