Alamar Capital Management LLC Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Alamar Capital Management LLC acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 19,030 shares of the company’s stock, valued at approximately $646,000.

Several other large investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its holdings in shares of Figure Technology Solutions by 69.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company’s stock valued at $2,773,000 after purchasing an additional 27,893 shares in the last quarter. UBS Group AG increased its position in Figure Technology Solutions by 322.9% in the fourth quarter. UBS Group AG now owns 885,977 shares of the company’s stock worth $36,183,000 after purchasing an additional 676,470 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Figure Technology Solutions during the fourth quarter valued at $5,041,000. Vanguard Group Inc. raised its stake in Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after purchasing an additional 452,136 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Figure Technology Solutions during the fourth quarter valued at $1,416,000.

Figure Technology Solutions Stock Performance

Shares of NASDAQ:FIGR opened at $30.04 on Thursday. The company has a market capitalization of $5.49 billion and a price-to-earnings ratio of 51.79. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The firm’s 50-day moving average is $31.57 and its 200 day moving average is $37.60. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Research analysts predict that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research report on Wednesday, July 8th. Sanford C. Bernstein decreased their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Finally, Bank of America lowered their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.25.

Insider Buying and Selling

In other Figure Technology Solutions news, Director June Ou sold 35,190 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 35,190 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the completion of the transaction, the director directly owned 35,190 shares in the company, valued at $1,344,258. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 343,657 shares of company stock worth $12,136,284 over the last ninety days. Corporate insiders own 26.60% of the company’s stock.

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.