Ninepoint Partners LP Invests $746,000 in Figure Technology Solutions, Inc. $FIGR

Ninepoint Partners LP purchased a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 24,293 shares of the company’s stock, valued at approximately $746,000.

Several other hedge funds have also recently bought and sold shares of FIGR. J Digital 6 LLC boosted its position in Figure Technology Solutions by 9.1% during the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after purchasing an additional 274,145 shares in the last quarter. Vanguard Group Inc. grew its holdings in Figure Technology Solutions by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after purchasing an additional 452,136 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions in the third quarter valued at $76,989,000. Fred Alger Management LLC acquired a new position in shares of Figure Technology Solutions during the 4th quarter worth $67,386,000. Finally, Pantera Capital Partners LP acquired a new position in shares of Figure Technology Solutions during the 3rd quarter worth $56,114,000.

Figure Technology Solutions Stock Down 2.1%

FIGR opened at $36.06 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.70 billion and a P/E ratio of 38.77. Figure Technology Solutions, Inc. has a 52 week low of $24.11 and a 52 week high of $78.00. The business’s fifty day simple moving average is $29.90 and its 200 day simple moving average is $32.97.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $218.45 million during the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, equities research analysts anticipate that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Figure Technology Solutions news, CFO Minchung Kgil sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $30.03, for a total value of $120,120.00. Following the sale, the chief financial officer directly owned 491,651 shares of the company’s stock, valued at approximately $14,764,279.53. This trade represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,650 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider directly owned 376,599 shares of the company’s stock, valued at $11,817,676.62. This represents a 11.23% 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 ninety days, insiders sold 72,767 shares of company stock valued at $2,232,634. Company insiders own 26.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective 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 Monday, July 13th. Sanford C. Bernstein lifted their target price on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Piper Sandler reduced their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.62.

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.