118,232 Shares in Figure Technology Solutions, Inc. $FIGR Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. acquired 118,232 shares of Figure Technology Solutions (NASDAQ:FIGR) in Q4, a stake worth about $4.83 million and representing roughly 0.07% of the company.
• Insider selling has been material recently: directors sold a combined 428,158 shares over the past three months, totaling about $14.49 million (including June Ou and Sachin Chand Jaitly).
• Figure unveiled a $200 million share buyback (up to ~3.3% of shares) even as it missed quarterly EPS ($0.06 vs. $0.13) while revenue rose ~90.7% year‑over‑year; analysts' consensus is a "Moderate Buy" with a $53.75 target.

Assetmark Inc. acquired a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 118,232 shares of the company's stock, valued at approximately $4,829,000. Assetmark Inc. owned about 0.07% of Figure Technology Solutions at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Figure Technology Solutions during the fourth quarter worth about $40,000. Blue Trust Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at about $64,000. SBI Securities Co. Ltd. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at about $66,000. PNC Financial Services Group Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at about $73,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at about $102,000.

Insider Activity

In related news, Director June Ou sold 67,840 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sachin Chand Jaitly sold 216,713 shares of Figure Technology Solutions stock in a transaction that occurred on 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 428,158 shares of company stock worth $14,490,279 over the last three months.

Figure Technology Solutions Trading Up 2.6%

NASDAQ FIGR opened at $36.67 on Friday. The firm has a 50 day simple moving average of $33.63 and a 200-day simple moving average of $41.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.20 and a current ratio of 2.20. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The firm has a market cap of $6.51 billion and a price-to-earnings ratio of 91.68.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its quarterly 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 the consensus estimate of $158.00 million. The firm's quarterly revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its Board of Directors has initiated a share repurchase program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FIGR has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Figure Technology Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, February 11th. Piper Sandler lifted 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 report on Wednesday, January 14th. Sanford C. Bernstein dropped their price target on shares of 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. Mizuho dropped 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 research report on Thursday, March 26th. Finally, The Goldman Sachs Group dropped their price target on shares of Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.75.

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.

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