CWA Asset Management Group LLC Purchases 21,009 Shares of Figure Technology Solutions, Inc. $FIGR

CWA Asset Management Group LLC grew its position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 54.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,845 shares of the company’s stock after buying an additional 21,009 shares during the quarter. CWA Asset Management Group LLC’s holdings in Figure Technology Solutions were worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. purchased a new position in Figure Technology Solutions in the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. purchased a new stake in Figure Technology Solutions during the 3rd quarter valued at $66,000. PNC Financial Services Group Inc. purchased a new stake in Figure Technology Solutions during the 3rd quarter valued at $73,000. BNP Paribas Financial Markets bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth $102,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth $200,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIGR. Piper Sandler upped their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective for the company. in a report on Tuesday, February 3rd. Zacks Research lowered Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Weiss Ratings downgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. Finally, Sanford C. Bernstein lifted their price target on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of $55.63.

Figure Technology Solutions Stock Up 3.7%

Figure Technology Solutions stock opened at $34.29 on Friday. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The company has a market cap of $6.08 billion and a P/E ratio of 85.73. The company has a current ratio of 2.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $43.78.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share 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 analysts’ expectations of $158.00 million. The company’s revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its board has authorized a stock buyback plan on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider David Todd Stevens sold 26,057 shares of Figure Technology Solutions 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 transaction, the insider owned 462,943 shares in the company, valued at $14,814,176. This trade represents a 5.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total transaction of $7,290,225.32. Additional details regarding this sale are available in the official SEC disclosure.

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.