Readystate Asset Management LP Takes Position in Figure Technology Solutions, Inc. $FIGR

Readystate Asset Management LP acquired a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $546,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. bought a new position in Figure Technology Solutions in the 3rd quarter worth $64,000. SBI Securities Co. Ltd. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $66,000. PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions in the third quarter worth about $73,000. Ameritas Advisory Services LLC acquired a new position in shares of Figure Technology Solutions during the 3rd quarter worth about $200,000. Finally, Hennessy Advisors Inc. bought a new stake in Figure Technology Solutions during the 3rd quarter valued at approximately $255,000.

Figure Technology Solutions Price Performance

Shares of FIGR stock opened at $35.50 on Thursday. Figure Technology Solutions, Inc. has a one year low of $30.01 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The business has a fifty day moving average price of $49.27. The company has a market capitalization of $6.25 billion and a PE ratio of 104.41.

Analyst Upgrades and Downgrades

Several brokerages have commented on FIGR. Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 3rd. Sanford C. Bernstein boosted their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $71.00 target price on shares of Figure Technology Solutions in a research note on Thursday, February 5th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Finally, Mizuho upped their price objective on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average price target of $59.50.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 250,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $34.06, for a total transaction of $8,515,000.00. Following the completion of the transaction, the director owned 6,128,993 shares in the company, valued at $208,753,501.58. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Benjamin Tannenbaum sold 100,000 shares of Figure Technology Solutions stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $35.82, for a total value of $3,582,000.00. Following the sale, the chief executive officer directly owned 3,821,366 shares in the company, valued at $136,881,330.12. The trade was a 2.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,352,573 shares of company stock worth $48,731,291 in the last ninety days.

Figure Technology Solutions 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.