105,625 Shares in Figure Technology Solutions, Inc. $FIGR Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP purchased a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 105,625 shares of the company’s stock, valued at approximately $3,842,000. Hudson Bay Capital Management LP owned approximately 0.06% of Figure Technology Solutions at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FIGR. Voya Investment Management LLC acquired a new position in Figure Technology Solutions in the third quarter worth $721,000. Exchange Traded Concepts LLC acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at $5,963,000. Blue Trust Inc. bought a new position in shares of Figure Technology Solutions in the third quarter valued at about $64,000. Hennessy Advisors Inc. bought a new position in shares of Figure Technology Solutions in the third quarter valued at about $255,000. Finally, CWA Asset Management Group LLC acquired a new position in Figure Technology Solutions during the 3rd quarter worth about $1,412,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Bank of America lowered shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a report on Tuesday, February 3rd. Zacks Research cut shares of Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Finally, Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.63.

Figure Technology Solutions Trading Up 3.7%

Shares of NASDAQ:FIGR opened at $34.29 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.26. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The company has a market cap of $6.08 billion and a PE ratio of 85.73. The stock’s 50-day moving average price is $43.78.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The firm’s revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its Board of Directors has approved a share repurchase plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Figure Technology Solutions news, insider David Todd Stevens sold 26,057 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $32.00, for a total transaction of $833,824.00. Following the completion of the sale, the insider owned 462,943 shares in the company, valued at approximately $14,814,176. The trade was a 5.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sachin Chand Jaitly sold 216,713 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total value of $7,290,225.32. The disclosure for this sale is available in the SEC filing.

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.