Exchange Traded Concepts LLC Buys 23,286 Shares of Figure Technology Solutions, Inc. $FIGR

Exchange Traded Concepts LLC boosted its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,251 shares of the company’s stock after purchasing an additional 23,286 shares during the quarter. Exchange Traded Concepts LLC owned about 0.11% of Figure Technology Solutions worth $7,647,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FIGR. Orland Properties Ltd bought a new stake in shares of Figure Technology Solutions in the third quarter worth about $319,187,000. Vanguard Group Inc. purchased a new position in Figure Technology Solutions during the 3rd quarter valued at approximately $91,751,000. Duquesne Family Office LLC purchased a new position in Figure Technology Solutions during the 3rd quarter valued at approximately $76,989,000. Pantera Capital Partners LP bought a new stake in Figure Technology Solutions in the 3rd quarter worth approximately $56,114,000. Finally, Capital World Investors purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter worth approximately $50,918,000.

Insiders Place Their Bets

In other news, insider David Todd Stevens sold 49,708 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total value of $1,591,650.16. Following the sale, the insider owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sachin Chand Jaitly sold 216,713 shares of the firm’s 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 disclosure for this sale is available in the SEC filing. Insiders have sold 292,478 shares of company stock worth $9,715,699 in the last quarter.

Wall Street Analysts Forecast Growth

FIGR has been the subject of a number of research reports. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Piper Sandler upped their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Zacks Research lowered shares of Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Mizuho dropped their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Bank of America cut shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $54.38.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $31.00 on Monday. The stock has a market cap of $5.50 billion and a PE ratio of 77.50. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $40.93. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results 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 company had revenue of $157.63 million during the quarter, compared to the consensus estimate of $158.00 million. The business’s revenue for the quarter was up 90.7% on a year-over-year basis.

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

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.