Figure Technology Solutions, Inc. $FIGR Shares Newly Bought by Brooklands Fund Management Ltd

Key Points

• Brooklands Fund Management bought 852,700 shares of Figure Technology Solutions worth approximately $24.6 million, representing about 0.46% of the company and 3.6% of the fund’s portfolio.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and average price target of $53.57, though some firms recently lowered their targets.
• Figure reported quarterly EPS of $0.35, exceeding the $0.24 consensus estimate, while its shares recently traded at $23.59—near the lower end of their 52-week range. Insiders sold 59,650 shares worth about $1.9 million over the past three months.

Brooklands Fund Management Ltd purchased a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 852,700 shares of the company's stock, valued at approximately $24,600,000. Figure Technology Solutions makes up about 3.6% of Brooklands Fund Management Ltd's investment portfolio, making the stock its 13th biggest holding. Brooklands Fund Management Ltd owned about 0.46% of Figure Technology Solutions as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FIGR. WPG Advisers LLC raised its position in shares of Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company's stock worth $32,000 after purchasing an additional 388 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Figure Technology Solutions in the second quarter worth approximately $47,000. GAMMA Investing LLC grew its holdings in shares of Figure Technology Solutions by 176.6% during the third quarter. GAMMA Investing LLC now owns 1,690 shares of the company's stock valued at $49,000 after buying an additional 1,079 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Figure Technology Solutions by 157.4% during the third quarter. SBI Securities Co. Ltd. now owns 1,974 shares of the company's stock valued at $57,000 after buying an additional 1,207 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company's stock valued at $131,000 after buying an additional 498 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FIGR. Wall Street Zen upgraded shares of Figure Technology Solutions from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Bank of America restated a "neutral" rating and set a $44.00 price objective on shares of Figure Technology Solutions in a research report on Monday, October 5th. Zacks Research upgraded shares of Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Piper Sandler cut their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lowered their price objective 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. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $53.57.

Figure Technology Solutions Price Performance

Shares of NASDAQ:FIGR opened at $23.59 on Friday. The company has a market capitalization of $4.38 billion and a P/E ratio of 24.56. Figure Technology Solutions, Inc. has a 1-year low of $21.78 and a 1-year high of $78.00. The firm's 50 day simple moving average is $31.35 and its two-hundred day simple moving average is $34.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The firm had revenue of $218.45 million during the quarter. Research analysts expect that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at Figure Technology Solutions

In other news, insider David Stevens sold 47,650 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the transaction, the insider owned 376,599 shares of the company's stock, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total value of $309,520.00. Following the transaction, the chief financial officer directly owned 483,651 shares of the company's stock, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 59,650 shares of company stock worth $1,924,897 in the last three months. Insiders own 26.60% of the company's stock.

About Figure Technology Solutions

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure's platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.

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