Orland Properties Ltd Acquires Shares of 8,776,113 Figure Technology Solutions, Inc. $FIGR

Orland Properties Ltd bought a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 8,776,113 shares of the company’s stock, valued at approximately $319,187,000. Figure Technology Solutions comprises approximately 68.3% of Orland Properties Ltd’s portfolio, making the stock its largest holding. Orland Properties Ltd owned approximately 4.21% of Figure Technology Solutions at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FIGR. Blue Trust Inc. bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth $64,000. SBI Securities Co. Ltd. bought a new stake in Figure Technology Solutions in the third quarter valued at about $66,000. PNC Financial Services Group Inc. bought a new stake in Figure Technology Solutions in the third quarter valued at about $73,000. Ameritas Advisory Services LLC acquired a new position in Figure Technology Solutions in the third quarter valued at about $200,000. Finally, Hennessy Advisors Inc. acquired a new position in Figure Technology Solutions in the third quarter valued at about $255,000.

Figure Technology Solutions Price Performance

Shares of Figure Technology Solutions stock opened at $30.48 on Friday. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 year high of $78.00. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $5.37 billion and a P/E ratio of 76.20. The stock has a 50-day simple moving average of $46.53.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) 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. Figure Technology Solutions’s revenue for the quarter was up 90.7% compared to the same quarter last year.

Figure Technology Solutions announced that its Board of Directors has approved a share repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

FIGR has been the subject of several analyst reports. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Piper Sandler increased their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 11th. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Bank of America downgraded shares of 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. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Figure Technology Solutions has an average rating of “Moderate Buy” and a consensus price target of $55.75.

Insider Activity

In other news, Director Michael Scott Cagney sold 200,058 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total transaction of $7,882,285.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director June Ou sold 200,058 shares of the 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. Insiders sold 426,173 shares of company stock worth $16,598,394 over the last quarter.

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.