Faithward Advisors LLC Buys Shares of 56,030 Figure Technology Solutions, Inc. $FIGR

Key Points

• Faithward Advisors LLC disclosed a new first-quarter stake in Figure Technology Solutions, buying 56,030 shares valued at about $1.9 million.
• Figure Technology Solutions reported Q1 earnings of $0.18 per share, narrowly beating estimates, on $166.84 million in revenue. Analysts now expect the company to earn about 0.94 EPS this year.
• The company authorized a $200 million share repurchase program, while insider selling has also been notable, including two directors each selling 67,840 shares in April.

Faithward Advisors LLC purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,030 shares of the company's stock, valued at approximately $1,902,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FIGR. Global Retirement Partners LLC purchased a new stake in shares of Figure Technology Solutions in the 4th quarter worth about $25,000. Strs Ohio purchased a new position in Figure Technology Solutions during the 4th quarter valued at about $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth about $35,000. Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth about $40,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $41,000.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $27.98 on Wednesday. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The stock has a market capitalization of $5.11 billion and a P/E ratio of 48.24. The firm's 50-day moving average is $33.84 and its two-hundred day moving average is $39.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90.

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

Figure Technology Solutions announced that its Board of Directors has initiated a share repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently commented on FIGR. Zacks Research upgraded shares of Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. The Goldman Sachs Group reduced their target price on Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Needham & Company LLC reiterated a "buy" rating and set a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Sanford C. Bernstein dropped their price target 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. Finally, Weiss Ratings raised Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $53.62.

Insider Buying and Selling

In other Figure Technology Solutions news, Director June Ou sold 67,840 shares of the business's stock in a transaction on Wednesday, April 15th. The stock was 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 available through the SEC website. 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 on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. Following the sale, the director owned 67,840 shares in the company, valued at $2,387,289.60. This trade represents a 50.00% decrease in their position. 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. Insiders sold a total of 471,337 shares of company stock worth $16,680,183 in the last three months. 26.60% of the stock is currently owned by insiders.

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.

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