123,423 Shares in Figure Technology Solutions, Inc. $FIGR Purchased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Figure Technology Solutions, buying 123,423 shares worth about $5.04 million in the fourth quarter, according to its latest SEC filing.
• The stock was trading around $33.41 and was down 5.5% on the day, while the company reported Q1 EPS of $0.18, slightly ahead of expectations and on revenue of $166.84 million.
• Figure Technology Solutions has also announced a $200 million share buyback, and analysts remain broadly positive with a Moderate Buy consensus price target of $53.63.

Eurizon Capital SGR S.p.A. bought a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 123,423 shares of the company's stock, valued at approximately $5,041,000. Eurizon Capital SGR S.p.A. owned about 0.07% of Figure Technology Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Orland Properties Ltd acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $319,187,000. Vanguard Group Inc. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $91,751,000. Duquesne Family Office LLC acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $76,989,000. Pantera Capital Partners LP acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $56,114,000. Finally, Capital World Investors acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $50,918,000.

Figure Technology Solutions Stock Down 5.5%

Shares of FIGR opened at $33.41 on Tuesday. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The firm has a market cap of $6.10 billion and a P/E ratio of 57.60. The firm's 50-day simple moving average is $35.09 and its 200 day simple moving average is $40.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. On average, analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $33.35, for a total value of $4,247,756.15. Following the completion of the transaction, the chief executive officer owned 3,250,466 shares of the company's stock, valued at $108,403,041.10. This represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 49,708 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 728,641 shares of company stock worth $25,288,002 over the last 90 days. Insiders own 26.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FIGR shares. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Mizuho lifted their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Zacks Research raised shares of Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 14th. The Goldman Sachs Group lowered their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings raised shares of Figure Technology Solutions from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.63.

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.

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