BIT Capital GmbH Takes Position in Figure Technology Solutions, Inc. $FIGR

BIT Capital GmbH acquired a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 212,211 shares of the company’s stock, valued at approximately $7,718,000. BIT Capital GmbH owned 0.10% of Figure Technology Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Figure Technology Solutions during the third quarter worth $91,751,000. JPMorgan Chase & Co. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $15,529,000. Endeavour Capital Advisors Inc. acquired a new stake in Figure Technology Solutions during the third quarter worth approximately $10,719,000. Zweig DiMenna Associates LLC bought a new stake in Figure Technology Solutions in the third quarter worth approximately $10,711,000. Finally, Federated Hermes Inc. acquired a new position in Figure Technology Solutions in the third quarter valued at approximately $8,183,000.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR opened at $32.93 on Friday. The company has a market cap of $5.80 billion and a PE ratio of 96.85. Figure Technology Solutions, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $78.00. The company has a 50-day simple moving average of $49.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 200,058 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Todd Stevens sold 40,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the completion of the sale, the insider owned 489,000 shares of the company’s stock, valued at approximately $17,222,580. This trade represents a 7.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 852,573 shares of company stock worth $31,701,291.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Mizuho lifted their price target on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Bank of America lowered shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a report on Tuesday, February 3rd. Sanford C. Bernstein boosted their target price on Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, January 13th. Finally, The Goldman Sachs Group raised their price objective on Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have given 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

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.