Temasek Holdings Private Ltd Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Key Points

• Temasek Holdings initiated a new position in Figure Technology Solutions, buying 41,675 shares valued at about $1.4 million in the first quarter.
• Insider selling has been significant, with directors June Ou and Michael Scott Cagney each selling 35,190 shares in May; insiders sold 343,657 shares worth $12.1 million over the past three months.
• Analysts are mixed but generally constructive: Figure has a Moderate Buy consensus with a $50.25 target price, though some firms recently trimmed targets and Wall Street Zen downgraded the stock to Sell.

Temasek Holdings Private Ltd purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 41,675 shares of the company's stock, valued at approximately $1,415,000.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions in the 4th quarter worth approximately $25,000. WPG Advisers LLC boosted 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 worth $32,000 after buying an additional 388 shares in the last quarter. Strs Ohio acquired a new position in Figure Technology Solutions in the fourth quarter worth approximately $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions in the fourth quarter worth approximately $35,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at $40,000.

Insider Activity at Figure Technology Solutions

In related news, Director June Ou sold 35,190 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $1,344,258.00. Following the transaction, the director directly owned 35,190 shares in the company, valued at approximately $1,344,258. The trade was 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. Over the last three months, insiders sold 343,657 shares of company stock worth $12,136,284. 26.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FIGR shares. Needham & Company LLC reissued a "buy" rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. Sanford C. Bernstein cut their target price on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 30th. Wall Street Zen downgraded Figure Technology Solutions from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Bank of America reduced their target price on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Finally, Piper Sandler dropped their price target on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Figure Technology Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $50.25.

Figure Technology Solutions Stock Up 3.5%

FIGR stock opened at $31.49 on Wednesday. The company has a 50 day moving average of $31.78 and a two-hundred day moving average of $37.68. The company has a market cap of $5.75 billion and a price-to-earnings ratio of 54.29. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share 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, equities analysts anticipate that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current fiscal year.

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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