Monashee Investment Management LLC Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Key Points

• Monashee Investment Management opened a new position in Figure Technology Solutions, buying 76,520 shares valued at about $2.6 million. The stake represents roughly 1.4% of Monashee’s portfolio.
• Insiders have been selling stock: Director David Todd Stevens and CEO Michael Benjamin Tannenbaum both made recent sales, and insiders sold 343,657 shares over the last 90 days. Company insiders still own 26.6% of the shares outstanding.
• Analyst sentiment remains constructive but mixed, with a consensus rating of “Moderate Buy” and an average price target of $50.25. The stock was last down 4.6% and traded at $30.04, well below the consensus target.

Monashee Investment Management LLC purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 76,520 shares of the company's stock, valued at approximately $2,598,000. Figure Technology Solutions makes up approximately 1.4% of Monashee Investment Management LLC's investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at approximately $25,000. WPG Advisers LLC boosted its position in Figure Technology Solutions by 71.1% during the 1st quarter. WPG Advisers LLC now owns 934 shares of the company's stock worth $32,000 after acquiring an additional 388 shares during the last quarter. Strs Ohio acquired a new position in Figure Technology Solutions during the 4th quarter worth approximately $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter worth approximately $35,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter worth approximately $40,000.

Insider Transactions at Figure Technology Solutions

In related news, insider David Todd Stevens sold 47,064 shares of the business'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 transaction of $1,993,160.40. Following the transaction, the insider directly owned 406,051 shares of the company's stock, valued at approximately $17,196,259.85. The trade was a 10.39% decrease in their position. The transaction was disclosed in a legal 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, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $36.03, for a total value of $73,176.93. Following the transaction, the chief executive officer directly owned 3,193,641 shares in the company, valued at $115,066,885.23. The trade was a 0.06% decrease in their ownership of the stock. 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 343,657 shares of company stock valued at $12,136,284. Company insiders own 26.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FIGR shares. Weiss Ratings raised shares of Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Bank of America lowered their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Mizuho boosted their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 14th. Sanford C. Bernstein reduced their price objective on shares of 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. Finally, Piper Sandler decreased their price objective 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 assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.25.

Figure Technology Solutions Stock Down 4.6%

Figure Technology Solutions stock opened at $30.04 on Thursday. The firm has a market capitalization of $5.49 billion and a PE ratio of 51.79. The company's 50-day moving average is $31.57 and its 200-day moving average is $37.60. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90.

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, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Sell-side 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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