Investment House LLC Buys Shares of 220,525 Figure Technology Solutions, Inc. $FIGR

Key Points

• Investment House LLC opened a new stake in Figure Technology Solutions, buying 220,525 shares valued at about $9.0 million in the fourth quarter. Several other institutional investors also added to or initiated positions in the company.
• Insiders have been selling shares recently, including David Todd Stevens and Director Michael Scott Cagney, with insiders selling 711,739 shares over the last 90 days. Despite that activity, insiders still own 26.6% of the company.
• Figure Technology Solutions beat quarterly EPS estimates with $0.18 per share versus $0.17 expected, and it also has a $200 million share buyback authorization in place. Analysts currently rate the stock a Moderate Buy with a consensus price target of $53.63.

Investment House LLC bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 220,525 shares of the company's stock, valued at approximately $9,006,000. Investment House LLC owned about 0.13% of Figure Technology Solutions at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Figure Technology Solutions in the fourth quarter valued at about $16,052,000. PNC Financial Services Group Inc. increased its stake in shares of Figure Technology Solutions by 69.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,379 shares of the company's stock valued at $138,000 after buying an additional 1,379 shares during the period. Requisite Capital Management LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $204,000. WIM INVESTMENT MANAGEMENT Ltd increased its stake in shares of Figure Technology Solutions by 53.6% in the fourth quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 745,286 shares of the company's stock valued at $30,437,000 after buying an additional 260,000 shares during the period. Finally, Pier Capital LLC increased its stake in shares of Figure Technology Solutions by 74.2% in the fourth quarter. Pier Capital LLC now owns 87,004 shares of the company's stock valued at $3,553,000 after buying an additional 37,050 shares during the period.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Todd Stevens sold 47,064 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the sale, the insider owned 406,051 shares of the company's stock, valued at approximately $17,196,259.85. This trade represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 35,190 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 711,739 shares of company stock valued at $24,660,582. Company insiders own 26.60% of the company's stock.

Figure Technology Solutions Trading Down 6.1%

Shares of Figure Technology Solutions stock opened at $36.23 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 1.90. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week high of $78.00. The stock has a 50 day moving average price of $35.22 and a two-hundred day moving average price of $40.27. The stock has a market capitalization of $6.62 billion and a PE ratio of 90.58.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, equities analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Figure Technology Solutions declared that its board has authorized a share buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, February 19th. Sanford C. Bernstein decreased their price target on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, March 30th. Zacks Research raised Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Mizuho increased their price target 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, Bank of America decreased their price target on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Figure Technology Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $53.63.

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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