Figure Technology Solutions, Inc. $FIGR Stock Holdings Raised by Investment House LLC

Key Points

• Investment House LLC increased its Figure Technology Solutions stake by 45% in the third quarter, bringing its holdings to 285,955 shares worth approximately $8.25 million. Several other institutional investors also initiated or expanded positions.
• FIGR shares opened at $24.04, near their 52-week low of $23.87, and are trading well below their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.35, exceeding the $0.24 consensus estimate, on revenue of $218.45 million.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $53.57 price target, although ratings range from “Strong Buy” to “Sell.” Insiders have sold 59,650 shares worth about $1.92 million over the past 90 days, including sales by the CFO and another insider under pre-arranged trading plans.

Investment House LLC boosted its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 45.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,955 shares of the company's stock after purchasing an additional 88,700 shares during the quarter. Investment House LLC owned approximately 0.15% of Figure Technology Solutions worth $8,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quantinno Capital Management LP purchased a new stake in shares of Figure Technology Solutions during the first quarter worth about $1,098,000. Temasek Holdings Private Ltd purchased a new stake in shares of Figure Technology Solutions during the first quarter worth approximately $1,415,000. Principal Financial Group Inc. acquired a new position in Figure Technology Solutions in the 1st quarter valued at $8,125,000. The Manufacturers Life Insurance Company lifted its holdings in Figure Technology Solutions by 660.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 42,717 shares of the company's stock valued at $1,450,000 after purchasing an additional 37,100 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Figure Technology Solutions during the 2nd quarter worth $3,398,000.

Figure Technology Solutions Stock Down 5.2%

Figure Technology Solutions stock opened at $24.04 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a 50 day moving average price of $32.56 and a 200 day moving average price of $32.22. Figure Technology Solutions, Inc. has a fifty-two week low of $23.87 and a fifty-two week high of $78.00. The company has a market capitalization of $4.46 billion and a PE ratio of 26.69.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on FIGR shares. The Goldman Sachs Group set a $41.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, October 7th. Weiss Ratings cut shares of Figure Technology Solutions from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, September 11th. Freedom Capital raised shares of Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, October 15th. Freedom Broker raised shares of Figure Technology Solutions to a "strong-buy" rating in a research report on Thursday, October 15th. Finally, Sanford C. Bernstein upped their price target on Figure Technology Solutions from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Four 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 assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $53.57.

Insider Activity at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the sale, the chief financial officer directly owned 483,651 shares of the company's stock, valued at $18,712,457.19. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the transaction, the insider directly owned 376,599 shares of the company's stock, valued at $11,817,676.62. This represents a 11.23% 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. Over the last ninety days, insiders have sold 59,650 shares of company stock worth $1,924,897. 26.60% of the stock is owned by insiders.

Figure Technology Solutions Company Profile

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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