Alamar Capital Management LLC Takes $646,000 Position in Figure Technology Solutions, Inc. $FIGR

Alamar Capital Management LLC acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,030 shares of the company’s stock, valued at approximately $646,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Duquesne Family Office LLC purchased a new position in Figure Technology Solutions during the 3rd quarter valued at about $76,989,000. Fred Alger Management LLC purchased a new stake in shares of Figure Technology Solutions in the 4th quarter worth approximately $67,386,000. Pantera Capital Partners LP purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $56,114,000. Balyasny Asset Management L.P. bought a new position in shares of Figure Technology Solutions during the third quarter valued at approximately $36,087,000. Finally, Alliancebernstein L.P. bought a new position in shares of Figure Technology Solutions during the third quarter valued at approximately $34,626,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FIGR. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Wall Street Zen lowered Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Piper Sandler decreased their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.25.

Figure Technology Solutions Trading Down 4.6%

NASDAQ:FIGR opened at $30.04 on Thursday. The stock has a market capitalization of $5.49 billion and a price-to-earnings ratio of 51.79. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. 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 firm has a 50 day moving average of $31.57 and a 200 day moving average of $37.60.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, sell-side analysts anticipate that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Figure Technology Solutions

In related news, Director June Ou sold 35,190 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. The transaction was disclosed in a legal 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, CFO Minchung Kgil sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $30.03, for a total transaction of $120,120.00. Following the sale, the chief financial officer directly owned 499,651 shares in the company, valued at approximately $15,004,519.53. This represents a 0.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 343,657 shares of company stock valued at $12,136,284. 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.