Leonteq Securities AG Invests $607,000 in Figure Technology Solutions, Inc. $FIGR

Leonteq Securities AG acquired a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 14,860 shares of the company’s stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIGR. Strs Ohio purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth about $34,000. Flagship Harbor Advisors LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth about $40,000. SBI Securities Co. Ltd. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth about $66,000. PNC Financial Services Group Inc. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth about $73,000. Finally, NBC Securities Inc. purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth about $92,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FIGR shares. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Bank of America cut their price objective on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s 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 Trading Down 1.3%

Shares of FIGR stock opened at $33.95 on Friday. The stock has a market capitalization of $6.20 billion and a PE ratio of 58.53. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The business has a 50-day moving average of $35.11 and a 200 day moving average of $40.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 2.20.

Figure Technology Solutions (NASDAQ:FIGR) last issued its 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 company had revenue of $166.84 million for 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.

Figure Technology Solutions declared that its board has approved a share repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Figure Technology Solutions

In related news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total transaction of $73,176.93. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares in the company, valued at $115,066,885.23. This represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 728,641 shares of company stock worth $25,288,002 over the last three months. Corporate insiders own 26.60% of the company’s stock.

Figure Technology Solutions Company 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.