First Trust Advisors LP Has $6.68 Million Stake in Figure Technology Solutions, Inc. $FIGR

Key Points

• First Trust Advisors LP more than doubled its Figure Technology Solutions position in the first quarter, acquiring 100,810 additional shares. Its 196,777 shares were valued at approximately $6.68 million, or 0.11% of the company.
• Figure insiders have been selling shares, including directors Michael Cagney and June Ou, who each sold 35,190 shares at $38.20 under pre-arranged Rule 10b5-1 plans. Insiders sold approximately $5.93 million worth of stock over the past 90 days.
• Analyst sentiment remains broadly positive but price targets have been reduced by some firms: Figure has a consensus “Moderate Buy” rating and a $50.25 target, while the stock opened at $24.91 near its 12-month low.

First Trust Advisors LP lifted its position in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 105.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,777 shares of the company's stock after acquiring an additional 100,810 shares during the period. First Trust Advisors LP owned approximately 0.11% of Figure Technology Solutions worth $6,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC grew its holdings in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock valued at $32,000 after purchasing an additional 388 shares during the period. Arcus Capital Partners LLC raised its holdings in Figure Technology Solutions by 7.9% in the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company's stock worth $251,000 after purchasing an additional 541 shares during the period. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions in the fourth quarter worth $25,000. Wells Fargo & Company MN boosted its position in shares of Figure Technology Solutions by 3.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company's stock worth $753,000 after purchasing an additional 616 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Figure Technology Solutions during the fourth quarter worth $34,000.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 35,190 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the completion of the sale, the director owned 35,190 shares of the company's stock, valued at $1,344,258. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of Figure Technology Solutions stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. 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 155,463 shares of company stock worth $5,926,353. 26.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Wall Street Zen downgraded Figure Technology Solutions from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Weiss Ratings upgraded Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Mizuho boosted their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Finally, Piper Sandler lowered their price target on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.25.

Figure Technology Solutions Price Performance

NASDAQ:FIGR opened at $24.91 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock's 50 day moving average price is $30.03 and its two-hundred day moving average price is $36.28. The firm has a market capitalization of $4.55 billion and a price-to-earnings ratio of 42.95. Figure Technology Solutions, Inc. has a 12-month low of $24.28 and a 12-month high of $78.00.

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

Figure Technology Solutions Company 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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