Figure Technology Solutions, Inc. $FIGR Shares Purchased by Royce & Associates LP

Royce & Associates LP increased its position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 203.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,532 shares of the company’s stock after acquiring an additional 64,023 shares during the period. Royce & Associates LP’s holdings in Figure Technology Solutions were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Figure Technology Solutions in the 3rd quarter worth $8,183,000. Lisanti Capital Growth LLC purchased a new position in Figure Technology Solutions in the 3rd quarter worth $3,780,000. JPMorgan Chase & Co. purchased a new position in Figure Technology Solutions in the 3rd quarter worth $15,529,000. BIT Capital GmbH purchased a new position in Figure Technology Solutions in the 3rd quarter worth $7,718,000. Finally, Fidelity National Financial Inc. purchased a new position in Figure Technology Solutions in the 3rd quarter worth $9,092,000.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $35.35 on Friday. The stock has a 50-day simple moving average of $35.08 and a two-hundred day simple moving average of $40.04. The firm has a market capitalization of $6.46 billion and a P/E ratio of 60.95. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. 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 released its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, equities analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, Director Sachin Chand Jaitly sold 216,713 shares of Figure Technology Solutions stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Scott Cagney sold 67,840 shares of Figure Technology Solutions stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. Following the transaction, the director owned 67,840 shares of the company’s stock, valued at $2,387,289.60. The trade was a 50.00% 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. In the last three months, insiders have sold 728,641 shares of company stock worth $25,288,002. Insiders own 26.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FIGR. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. 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 research note 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 research note on Monday, March 30th. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Mizuho raised their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.63.

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.