Figure Technology Solutions, Inc. $FIGR Stock Position Increased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its FIGR stake by 92.4% in the third quarter, bringing its holdings to 192,421 shares valued at approximately $5.55 million. Several other institutional investors also initiated or expanded positions.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $53.57, despite mixed recent rating changes and a price-target cut from Keefe, Bruyette & Woods.
• FIGR shares opened at $23.19 after declining 3.5%; the company recently reported quarterly EPS of $0.35, beating estimates of $0.24, on revenue of $218.45 million. Insiders sold 59,650 shares worth about $1.92 million over the past three months.

Robeco Institutional Asset Management B.V. boosted its holdings in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 92.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,421 shares of the company's stock after buying an additional 92,421 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Figure Technology Solutions worth $5,551,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

FIGR has been the subject of several recent analyst reports. Zacks Research upgraded Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Wall Street Zen raised Figure Technology Solutions from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings downgraded Figure Technology Solutions from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, September 11th. Keefe, Bruyette & Woods dropped their price target on Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Finally, The Goldman Sachs Group set a $41.00 price objective on shares of Figure Technology Solutions in a research report on Wednesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $53.57.

Insiders Place Their Bets

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

Figure Technology Solutions Trading Down 3.5%

FIGR stock opened at $23.19 on Friday. The company has a market capitalization of $4.31 billion and a PE ratio of 24.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. Figure Technology Solutions, Inc. has a one year low of $22.60 and a one year high of $78.00. The company's 50 day moving average price is $32.40 and its two-hundred day moving average price is $32.16.

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, beating 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 company had revenue of $218.45 million during the quarter. As a group, analysts predict that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal year.

Figure Technology Solutions 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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