HB Wealth Management LLC Invests $598,000 in Figure Technology Solutions, Inc. $FIGR

HB Wealth Management LLC bought a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the first quarter, HoldingsChannel reports. The firm bought 17,601 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions in the fourth quarter worth $25,000. Strs Ohio acquired a new position in shares of Figure Technology Solutions in the 4th quarter valued at about $34,000. MetLife Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at about $35,000. Flagship Harbor Advisors LLC acquired a new stake in Figure Technology Solutions during the fourth quarter worth about $40,000. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions in the fourth quarter valued at approximately $41,000.

Insider Buying and Selling

In other news, CFO Minchung Kgil sold 9,117 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were 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 of the company’s stock, valued at $15,259,989.06. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Todd Stevens sold 47,064 shares of the firm’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 owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. This represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 479,337 shares of company stock worth $16,910,863 over the last ninety days. 26.60% of the stock is currently owned by corporate insiders.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $31.80 on Friday. The stock has a market cap of $5.81 billion and a PE ratio of 54.83. The business has a fifty day simple moving average of $32.82 and a 200-day simple moving average of $38.37. 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 12 month low of $25.01 and a 12 month high of $78.00.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Sanford C. Bernstein dropped their price target on 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. Mizuho boosted their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Bank of America dropped their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.62.

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.