Vestor Capital LLC Has $2.76 Million Stake in Figure Technology Solutions, Inc. $FIGR

Key Points

• Vestor Capital increased its Figure Technology Solutions stake by 2,908.7% in the first quarter, ending with 81,234 shares valued at approximately $2.76 million. Several other institutional investors also recently established positions in FIGR.
• Figure Technology Solutions reported quarterly EPS of $0.18, exceeding analysts’ $0.17 consensus estimate, on revenue of $166.84 million. Analysts project $0.92 in full-year EPS.
• FIGR opened at $25.81, well below its 52-week high of $78.00, while analysts maintained an overall “Moderate Buy” rating with an average price target of $50.25; insiders sold about $5.93 million of stock over the past 90 days.

Vestor Capital LLC raised its position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 2,908.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,234 shares of the company's stock after acquiring an additional 78,534 shares during the period. Vestor Capital LLC's holdings in Figure Technology Solutions were worth $2,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FIGR. Victory Capital Management Inc. bought a new position in shares of Figure Technology Solutions in the third quarter worth about $9,221,000. Franklin Resources Inc. acquired a new stake in Figure Technology Solutions in the 3rd quarter valued at approximately $5,456,000. BNP Paribas Financial Markets bought a new position in Figure Technology Solutions in the 3rd quarter worth approximately $102,000. UBS Group AG acquired a new position in shares of Figure Technology Solutions during the third quarter worth approximately $7,620,000. Finally, Invesco Ltd. bought a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $25,451,000.

Insider Activity at Figure Technology Solutions

In related news, insider David Todd Stevens sold 47,064 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the transaction, the insider owned 406,051 shares of the company's stock, valued at $17,196,259.85. This represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 155,463 shares of company stock worth $5,926,353 in the last ninety days. Company insiders own 26.60% of the company's stock.

Figure Technology Solutions Stock Performance

FIGR opened at $25.81 on Friday. The stock's 50 day simple moving average is $30.21 and its 200-day simple moving average is $36.47. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.71 billion and a PE ratio of 44.50. Figure Technology Solutions, Inc. has a 1 year low of $24.90 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Sell-side analysts forecast that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.

Analyst Ratings Changes

FIGR has been the topic of a number of research reports. Mizuho boosted their target price 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. Bank of America reduced their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 14th. Finally, Wall Street Zen lowered shares of Figure Technology Solutions from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. One research 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.25.

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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