William Blair Investment Management LLC Acquires Shares of 106,233 Figure Technology Solutions, Inc. $FIGR

Key Points

• William Blair Investment Management opened a new position in Figure Technology Solutions, buying 106,233 shares valued at about $4.34 million in the fourth quarter.
• Wall Street analysts remain broadly positive on FIGR, with an average rating of “Moderate Buy” and an average price target of $53.63, above the stock’s recent trading level.
• Figure reported Q1 earnings of $0.18 per share, slightly beating estimates, and its board authorized a $200 million share buyback; meanwhile, several insiders have sold stock in recent months.

William Blair Investment Management LLC bought a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 106,233 shares of the company's stock, valued at approximately $4,339,000. William Blair Investment Management LLC owned 0.06% of Figure Technology Solutions at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FIGR. Federated Hermes Inc. acquired a new position in Figure Technology Solutions during the third quarter worth $8,183,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter worth $2,157,000. Lisanti Capital Growth LLC purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter worth $3,780,000. Mutual Advisors LLC acquired a new position in shares of Figure Technology Solutions during the 3rd quarter worth $1,446,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $66,000.

Wall Street Analysts Forecast Growth

FIGR has been the topic of several research analyst reports. Mizuho boosted their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Keefe, Bruyette & Woods raised Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, February 19th. The Goldman Sachs Group decreased their target price on Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Texas Capital raised Figure Technology Solutions to a "strong-buy" rating in a report on Thursday, January 29th. Finally, Sanford C. Bernstein dropped their price target on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.63.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $35.22 on Wednesday. Figure Technology Solutions, Inc. has a 52 week low of $25.01 and a 52 week 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. The firm's 50-day simple moving average is $35.07 and its 200 day simple moving average is $40.10. The firm has a market capitalization of $6.43 billion and a PE ratio of 60.72.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. On average, equities research analysts predict that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total value of $73,176.93. Following the sale, the chief executive officer directly owned 3,193,641 shares in the company, valued at $115,066,885.23. The trade was a 0.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the transaction, the insider owned 406,051 shares in the company, valued at approximately $17,196,259.85. This trade represents a 10.39% decrease in their ownership of the stock. 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 ninety days, insiders sold 728,641 shares of company stock worth $25,288,002. 26.60% of the stock is owned by company insiders.

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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