Figure Technology Solutions, Inc. $FIGR Shares Sold by Orland Properties Ltd

Key Points

• Orland Properties Ltd cut its stake in Figure Technology Solutions by 54.9% in the first quarter, though FIGR still remains its largest holding at about 50.4% of the portfolio.
• Insiders have also been selling: CFO Minchung Kgil and insider David Todd Stevens both trimmed their holdings, and insider selling totaled 343,657 shares over the last three months.
• Figure Technology Solutions recently reported quarterly EPS of $0.18, edging past estimates, but analysts are mixed overall with an average rating of Moderate Buy and an average price target of $50.25.

Orland Properties Ltd trimmed its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 54.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,957,647 shares of the company's stock after selling 4,818,466 shares during the quarter. Figure Technology Solutions accounts for about 50.4% of Orland Properties Ltd's portfolio, making the stock its largest position. Orland Properties Ltd owned approximately 2.18% of Figure Technology Solutions worth $134,362,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its stake in shares of 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 acquiring an additional 27,893 shares during the last quarter. UBS Group AG raised its position in shares of Figure Technology Solutions by 322.9% in the 4th quarter. UBS Group AG now owns 885,977 shares of the company's stock valued at $36,183,000 after purchasing an additional 676,470 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter valued at approximately $1,416,000. WIM INVESTMENT MANAGEMENT Ltd boosted its stake in Figure Technology Solutions by 53.6% in the 4th quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 745,286 shares of the company's stock worth $30,437,000 after purchasing an additional 260,000 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Figure Technology Solutions in the 4th quarter worth approximately $5,041,000.

Insider Transactions at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 4,000 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $30.03, for a total transaction of $120,120.00. Following the completion of the transaction, the chief financial officer owned 499,651 shares of the company's stock, valued at $15,004,519.53. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the business'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 transaction, the insider owned 406,051 shares of the company's stock, valued at $17,196,259.85. This represents a 10.39% 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. Over the last three months, insiders have sold 343,657 shares of company stock valued at $12,136,284. 26.60% of the stock is owned by corporate insiders.

Figure Technology Solutions Price Performance

Shares of NASDAQ:FIGR opened at $28.97 on Friday. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00. The company's 50 day moving average is $32.11 and its 200 day moving average is $37.85. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.29 billion and a PE ratio of 49.95.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million for the quarter. On average, sell-side analysts forecast that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Figure Technology Solutions from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Bank of America dropped their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Piper Sandler cut their target price on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Figure Technology Solutions has an average rating of "Moderate Buy" and an average price target of $50.25.

Figure Technology Solutions 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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