Maplelane Capital LLC Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Key Points

• Maplelane Capital LLC disclosed a new first-quarter stake in Figure Technology Solutions, buying 681,000 shares worth about $23.1 million, making it the fund’s 25th largest holding.
• Figure Technology Solutions shares were down 5.6% to $27.59, leaving the stock well below its 52-week high of $78.00 and trading under both its 50-day and 200-day moving averages.
• The company recently beat quarterly EPS estimates with $0.18 per share versus $0.17 expected, while analysts still see a Moderate Buy consensus with an average target price of about $50.25.

Maplelane Capital LLC bought a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 681,000 shares of the company's stock, valued at approximately $23,120,000. Figure Technology Solutions makes up approximately 0.8% of Maplelane Capital LLC's holdings, making the stock its 25th largest holding. Maplelane Capital LLC owned 0.37% of Figure Technology Solutions at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions in the 4th quarter valued at approximately $25,000. Strs Ohio bought a new stake in Figure Technology Solutions during the fourth quarter worth approximately $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions during the fourth quarter valued at approximately $35,000. 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 last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at approximately $40,000.

Figure Technology Solutions Trading Down 5.6%

Shares of Figure Technology Solutions stock opened at $27.59 on Friday. The firm has a market capitalization of $5.04 billion and a PE ratio of 47.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The company's fifty day moving average price is $30.98 and its two-hundred day moving average price is $37.43. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its 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 company had revenue of $166.84 million during the quarter. On average, analysts expect that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Piper Sandler cut their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 14th. Finally, Mizuho raised their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Figure Technology Solutions has a consensus rating of "Moderate Buy" and an average target price of $50.25.

Insiders Place Their Bets

In other news, CFO Minchung Kgil sold 9,117 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the transaction, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Scott Cagney sold 35,190 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. Following the transaction, the director directly owned 35,190 shares in the company, valued at approximately $1,344,258. This represents a 50.00% 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. Insiders sold a total of 335,657 shares of company stock valued at $11,878,284 over the last three months. Company insiders own 26.60% of the company's stock.

About Figure Technology Solutions

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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