SG Americas Securities LLC Takes $1.42 Million Position in Figure Technology Solutions, Inc. $FIGR

SG Americas Securities LLC acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,684 shares of the company’s stock, valued at approximately $1,416,000.

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

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Sachin Chand Jaitly sold 216,713 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider directly owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. The trade was a 10.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 292,478 shares of company stock valued at $9,715,699 over the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FIGR shares. Zacks Research cut Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Needham & Company LLC cut their price objective on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Bank of America cut shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price for the company. in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein reduced their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Two investment 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 given 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 $53.75.

Figure Technology Solutions Price Performance

Shares of NASDAQ FIGR opened at $32.30 on Tuesday. The stock has a market cap of $5.73 billion and a P/E ratio of 80.75. The firm’s 50-day simple moving average is $36.79 and its 200 day simple moving average is $41.36. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to analysts’ expectations of $158.00 million. Figure Technology Solutions’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 authorized a stock buyback plan on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Figure Technology Solutions

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.