UBS Group AG Increases Stock Position in Figure Technology Solutions, Inc. $FIGR

Key Points

• UBS Group AG sharply increased its stake in Figure Technology Solutions by 322.9% in the fourth quarter, ending with 885,977 shares valued at about $36.2 million.
• The company reported mixed quarterly results: EPS of $0.06 missed estimates, while revenue of $157.63 million was roughly in line and still up 90.7% year over year.
• Figure’s board authorized a $200 million share buyback covering up to 3.3% of outstanding shares, even as insiders sold stock and analysts maintained a generally Moderate Buy consensus with a $53.75 price target.

UBS Group AG increased its position in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 322.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 885,977 shares of the company's stock after purchasing an additional 676,470 shares during the quarter. UBS Group AG owned 0.50% of Figure Technology Solutions worth $36,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $8,183,000. Lisanti Capital Growth LLC purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $3,780,000. JPMorgan Chase & Co. purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $15,529,000. BIT Capital GmbH purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $7,718,000. Finally, Fidelity National Financial Inc. purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $9,092,000.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $37.63 on Friday. The firm has a market cap of $6.84 billion and a PE ratio of 94.08. The firm's 50-day simple moving average is $33.76 and its 200-day simple moving average is $40.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.20 and a current ratio of 2.20. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The business's quarterly revenue was up 90.7% compared to the same quarter last year. Equities analysts forecast that Figure Technology Solutions, Inc. will post 0.93 earnings per share for the current fiscal year.

Figure Technology Solutions declared that its board has initiated a share buyback program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director June Ou sold 67,840 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 67,840 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the completion of the transaction, the director owned 67,840 shares in the company, valued at approximately $2,387,289.60. The trade was a 50.00% 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. In the last 90 days, insiders sold 620,352 shares of company stock worth $20,812,730. Company insiders own 26.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FIGR shares. Sanford C. Bernstein reduced their price objective on shares of Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, March 30th. Needham & Company LLC cut their target price on shares of Figure Technology Solutions from $71.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Bank of America lowered shares of Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Finally, Mizuho cut 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 research note on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.75.

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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