BIT Capital GmbH Acquires 50,541 Shares of Figure Technology Solutions, Inc. $FIGR

BIT Capital GmbH lifted its holdings in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,752 shares of the company's stock after acquiring an additional 50,541 shares during the period. BIT Capital GmbH owned 0.15% of Figure Technology Solutions worth $10,731,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new position in Figure Technology Solutions in the 3rd quarter valued at approximately $15,529,000. Fidelity National Financial Inc. bought a new stake in shares of Figure Technology Solutions during the third quarter worth about $9,092,000. Orland Properties Ltd bought a new stake in shares of Figure Technology Solutions during the third quarter worth about $319,187,000. Pictet Asset Management Holding SA boosted its holdings in Figure Technology Solutions by 69.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company's stock worth $2,773,000 after purchasing an additional 27,893 shares during the last quarter. Finally, Vanguard Group Inc. purchased a new position in Figure Technology Solutions in the third quarter valued at about $91,751,000.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR opened at $28.49 on Friday. 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, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The firm has a market capitalization of $5.20 billion and a price-to-earnings ratio of 49.12. The firm has a 50 day moving average of $34.91 and a 200 day moving average of $39.83.

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

Figure Technology Solutions declared that its board has approved a stock repurchase program on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

FIGR has been the topic of several research reports. Zacks Research raised shares of Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Sanford C. Bernstein cut 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 increased their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Figure Technology Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $53.63.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the completion of the transaction, the chief executive officer directly owned 3,250,466 shares of the company's stock, valued at approximately $108,403,041.10. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 67,840 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the transaction, the director directly owned 67,840 shares of the company's stock, valued at $2,387,289.60. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 728,641 shares of company stock valued at $25,288,002. Company insiders own 26.60% of the company's stock.

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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