Federated Hermes Inc. Acquires Shares of 225,000 Figure Technology Solutions, Inc. $FIGR

Key Points

• Federated Hermes acquired a new stake of 225,000 shares in Figure Technology Solutions valued at about $8.18 million (≈0.11% ownership), and several other institutions (Exchange Traded Concepts, CWA, Emerald, Voya, Hennessy) also initiated or increased positions in the third quarter.
• Strong quarterly results: FIGR reported $0.34 EPS vs. $0.16 expected and $156.03 million in revenue; the stock trades with a $9.81 billion market cap, a PE of 163.82, and a 52-week range of $30.01–$78.00.
• Heavy insider selling: Directors Michael Scott Cagney and June Ou each sold 500,000 shares at $36.22 on Nov. 20, and insiders have sold 3,344,073 shares totaling about $123.8 million in the past 90 days.

Federated Hermes Inc. acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 225,000 shares of the company's stock, valued at approximately $8,183,000. Federated Hermes Inc. owned approximately 0.11% of Figure Technology Solutions at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in Figure Technology Solutions during the third quarter valued at $5,963,000. CWA Asset Management Group LLC purchased a new stake in Figure Technology Solutions in the third quarter valued at approximately $1,412,000. Emerald Mutual Fund Advisers Trust bought a new stake in Figure Technology Solutions during the third quarter valued at approximately $1,013,000. Voya Investment Management LLC bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth $721,000. Finally, Hennessy Advisors Inc. purchased a new stake in Figure Technology Solutions during the third quarter valued at about $255,000.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $55.70 on Monday. The stock has a market capitalization of $9.81 billion and a PE ratio of 163.82. Figure Technology Solutions, Inc. has a 52-week low of $30.01 and a 52-week high of $78.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The business has a 50-day moving average price of $48.64.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its earnings results on Thursday, November 13th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.18. The company had revenue of $156.03 million during the quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FIGR. Bank of America boosted their price objective on Figure Technology Solutions from $41.00 to $47.00 and gave the company a "neutral" rating in a research report on Monday, November 17th. Sanford C. Bernstein upped their price objective on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, January 13th. Jefferies Financial Group assumed coverage on shares of Figure Technology Solutions in a report on Monday, October 6th. They set a "hold" rating and a $40.00 target price for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Figure Technology Solutions in a research report on Monday, December 29th. Finally, Mizuho boosted their target price on Figure Technology Solutions from $47.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.63.

Insiders Place Their Bets

In other news, Director Michael Scott Cagney sold 500,000 shares of the firm's stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the completion of the transaction, the director owned 6,378,993 shares in the company, valued at $231,047,126.46. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director June Ou sold 500,000 shares of the business's stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the completion of the sale, the director owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. This trade represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,344,073 shares of company stock valued at $123,816,526 in the last 90 days.

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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