Vanguard Group Inc. Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Key Points

• Vanguard acquired a new stake of 2,522,717 shares (~$91.75M), representing about 1.21% ownership of Figure Technology Solutions (FIGR) per its latest 13F filing.
• FIGR announced a $200 million share buyback (up to ~3.3% of shares) the same week it reported Q results that missed EPS expectations ($0.06 vs. $0.13) while revenue rose 90.7% year‑over‑year to $157.63M.
• Insiders sold a total of 426,173 shares (~$16.6M) over the past three months, and analyst sentiment is mixed with a MarketBeat consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Vanguard Group Inc. acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,522,717 shares of the company's stock, valued at approximately $91,751,000. Vanguard Group Inc. owned approximately 1.21% of Figure Technology Solutions as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC bought a new stake in shares of Figure Technology Solutions during the 3rd quarter worth about $721,000. Exchange Traded Concepts LLC bought a new stake in Figure Technology Solutions during the third quarter worth approximately $5,963,000. Blue Trust Inc. acquired a new stake in Figure Technology Solutions in the third quarter worth approximately $64,000. Hennessy Advisors Inc. bought a new position in Figure Technology Solutions during the 3rd quarter valued at $255,000. Finally, CWA Asset Management Group LLC bought a new position in Figure Technology Solutions during the 3rd quarter valued at $1,412,000.

Insider Activity

In other news, insider David Todd Stevens sold 26,057 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total value of $833,824.00. Following the completion of the sale, the insider directly owned 462,943 shares of the company's stock, valued at approximately $14,814,176. This represents a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Scott Cagney sold 200,058 shares of the business's stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total transaction of $7,882,285.20. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 426,173 shares of company stock valued at $16,598,394.

Analyst Upgrades and Downgrades

FIGR has been the subject of several research reports. Bank of America cut Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research note on Tuesday, February 3rd. Texas Capital upgraded shares of Figure Technology Solutions to a "strong-buy" rating in a research report on Thursday, January 29th. Needham & Company LLC reduced their price objective on Figure Technology Solutions from $71.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Weiss Ratings cut Figure Technology Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, February 11th. Finally, Sanford C. Bernstein increased their price target on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.75.

Figure Technology Solutions Price Performance

FIGR stock opened at $31.46 on Friday. The company has a market capitalization of $5.54 billion and a PE ratio of 78.65. The company's 50-day moving average price is $46.80. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $157.63 million during the quarter, compared to analyst estimates of $158.00 million. The firm's revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its Board of Directors has approved a share buyback program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

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.

Want to see what other hedge funds are holding FIGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.