Figure Technology Solutions, Inc. $FIGR is J Digital 6 LLC's Largest Position

J Digital 6 LLC decreased its holdings in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 5.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,089,351 shares of the company's stock after selling 187,236 shares during the quarter. Figure Technology Solutions comprises about 74.9% of J Digital 6 LLC's portfolio, making the stock its biggest position. J Digital 6 LLC owned approximately 1.70% of Figure Technology Solutions worth $104,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions during the 4th quarter valued at about $25,000. WPG Advisers LLC boosted its holdings in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock worth $32,000 after acquiring an additional 388 shares in the last quarter. Strs Ohio purchased a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $34,000. MetLife Investment Management LLC purchased a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Figure Technology Solutions during the fourth quarter valued at about $40,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America decreased their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Wall Street Zen downgraded shares of Figure Technology Solutions from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods cut their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Sanford C. Bernstein decreased 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 report on Monday, March 30th. Finally, Piper Sandler lowered their price objective on shares of Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.25.

Figure Technology Solutions Stock Down 5.6%

Shares of FIGR stock opened at $27.59 on Friday. The stock's 50-day simple moving average is $30.98 and its 200-day simple moving average is $37.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $5.04 billion and a PE ratio of 47.57. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00.

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 analysts' consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. Equities analysts expect that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

Insider Activity 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, insider David Todd Stevens sold 47,064 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the sale, the insider directly owned 406,051 shares in the company, valued at $17,196,259.85. This trade represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 335,657 shares of company stock worth $11,878,284 in the last ninety days. 26.60% of the stock is owned by company 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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