Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $16.05 Million in Figure Technology Solutions, Inc. $FIGR

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 4th quarter, HoldingsChannel reports. The fund purchased 393,047 shares of the company’s stock, valued at approximately $16,052,000.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Figure Technology Solutions by 69.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,379 shares of the company’s stock worth $138,000 after purchasing an additional 1,379 shares during the period. Requisite Capital Management LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter worth $204,000. WIM INVESTMENT MANAGEMENT Ltd increased its holdings in shares of Figure Technology Solutions by 53.6% in the fourth quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 745,286 shares of the company’s stock worth $30,437,000 after purchasing an additional 260,000 shares during the period. Pier Capital LLC increased its holdings in shares of Figure Technology Solutions by 74.2% in the fourth quarter. Pier Capital LLC now owns 87,004 shares of the company’s stock worth $3,553,000 after purchasing an additional 37,050 shares during the period. Finally, Truist Financial Corp bought a new position in shares of Figure Technology Solutions in the fourth quarter worth $321,000.

Figure Technology Solutions Stock Down 6.1%

Shares of NASDAQ:FIGR opened at $36.23 on Wednesday. The stock’s 50-day moving average price is $35.22 and its 200-day moving average price is $40.27. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00. The stock has a market capitalization of $6.62 billion and a P/E ratio of 90.58. The company has a current ratio of 1.90, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, equities analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions announced that its board has authorized a share buyback program on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on FIGR shares. The Goldman Sachs Group decreased their price target on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Bank of America cut their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.63.

Insider Activity

In other news, Director Michael Scott Cagney sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the transaction, the director directly owned 67,840 shares of the company’s stock, valued at approximately $2,387,289.60. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 711,739 shares of company stock valued at $24,660,582. Company insiders own 26.60% of the company’s stock.

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.