Public Employees Retirement System of Ohio Invests $1.24 Million in Figure Technology Solutions, Inc. $FIGR

Key Points

• Public Employees Retirement System of Ohio acquired 40,323 shares of Figure Technology Solutions in the second quarter, valued at approximately $1.24 million. Several other institutional investors also increased their positions.
• Analysts remain generally bullish: Figure has a consensus “Moderate Buy” rating and an average price target of $50.62, with recent target increases from Bernstein and Mizuho.
• Figure reported quarterly EPS of $0.35, exceeding the $0.24 consensus estimate, on revenue of $218.45 million. However, insiders sold 80,767 shares worth about $2.54 million over the last quarter, while the stock opened at $38.26.

Public Employees Retirement System of Ohio acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 40,323 shares of the company's stock, valued at approximately $1,238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIGR. WPG Advisers LLC increased its holdings in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock valued at $32,000 after buying an additional 388 shares in the last quarter. State of Wyoming grew its holdings in shares of Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company's stock worth $131,000 after acquiring an additional 498 shares during the period. Arcus Capital Partners LLC increased its stake in Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company's stock valued at $251,000 after purchasing an additional 541 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions in the 4th quarter valued at approximately $25,000. Finally, Wells Fargo & Company MN raised its holdings in 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 during the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on FIGR shares. Sanford C. Bernstein upped their target price on Figure Technology Solutions from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Mizuho increased their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Figure Technology Solutions in a report on Thursday, August 20th. Zacks Research upgraded shares of Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Figure Technology Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.62.

Figure Technology Solutions Stock Up 6.4%

Shares of NASDAQ:FIGR opened at $38.26 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.10 billion and a P/E ratio of 41.14. Figure Technology Solutions, Inc. has a 52-week low of $24.11 and a 52-week high of $78.00. The stock's fifty day simple moving average is $32.16 and its 200-day simple moving average is $32.74.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The firm had revenue of $218.45 million during the quarter. As a group, equities research analysts forecast that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at Figure Technology Solutions

In related news, insider David Stevens sold 47,650 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares of the company's stock, valued at $18,712,457.19. The trade was a 1.63% 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 quarter, insiders have sold 80,767 shares of company stock valued at $2,542,154. 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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